In a groundbreaking move, BitMEX has recently introduced the MEMEMEXTUSDT Basket Index Perpetual Swap Contract. This innovative offering is set to revolutionize the trading experience for investors by providing a unique opportunity to gain exposure to a variety of meme coins through a single contract.
The MEMEMEXTUSDT Basket Index Perpetual Swap Contract, also known as the “S&P500 for crypto meme coins,” enables traders to speculate on the performance of popular meme coins such as Dogecoin, Shiba Inu, Pepe, dogwifhat, Floki Inu, Brett, Bonk, Book of Meme, Memecoin, and Mog Coin. By consolidating these meme coins into one contract, traders can diversify their risk and invest in a segment of the crypto industry rather than individual tokens.
The contract is margined in USDT and offers traders up to 25x leverage. Each contract represents 0.0001 MEMEMEXT, with a lot size of 1000. The maker fee is set at -0.015%, while the taker fee is 0.075%. Additionally, the base initial margin requirement is 4.00%, and the base maintenance margin is 2.00%.
Benefits of the MEMEMEXTUSDT Contract
The introduction of the MEMEMEXTUSDT Basket Index Perpetual Swap Contract marks a significant milestone for the crypto trading community. BitMEX CEO, Stephen Lutz, emphasizes the safety and convenience that this new offering brings to traders. By allowing traders to access a diversified basket of meme coins without the need to directly invest in individual tokens, MEMEMEXTUSDT provides a unique opportunity to capitalize on the meme coin market while mitigating risks associated with volatility, short cycles, and liquidity challenges.
The launch of the MEMEMEXTUSDT Basket Index Perpetual Swap Contract on BitMEX is a game-changer for traders looking to explore the world of meme coins. By offering a simplified and secure way to gain exposure to a variety of meme coins through a single contract, BitMEX has opened up new possibilities for investors in the crypto space. With the MEMEMEXTUSDT contract, traders can now diversify their portfolios and navigate the volatile meme coin market with confidence and ease.
