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BitMEX Launches New Memecoin Index
BitMEX, a leading cryptocurrency exchange, has unveiled a novel tool for investors.The MEMEMEXTUSDT Basket Index Perpetual Swap Contract. This unique product allows traders to gain exposure to the top ten memecoins via a single contract, streamlining what has traditionally been a complex trading process. The product is akin to a memecoin version of the S&P 500 index, providing a comprehensive solution for enthusiasts. The MEMEMEXTUSDT index is designed based on the weighted average price of the top ten memecoins by market capitalization. To ensure its accuracy and relevance, the index components will undergo monthly rebalancing. This USDT-margined linear perpetual swap offers up to 25x leverage, allowing investors to manage risks and maximize potential returns effectively. In its press release, BitMEX likened the MEMEMEXTUSDT contract to the S&P 500, suggesting it offers a similar all-encompassing investment solution but tailored for the memecoin market. The contract aims to enhance liquidity, making it easier and cost-effective for traders to execute transactions. This feature is particularly advantageous in the often-volatile memecoin market, where liquidity can be scarce.
To celebrate the launch, BitMEX is offering a reward pool of up to $10,000 in USDT for traders using the MEMEMEXTUSDT contract. The top-performing traders will share this reward, providing an additional incentive for early adopters.
#bitmex #SOFR_Spike #US_Job_Market_Slowdown #Megadrop #BinanceTournament
BitMEX, a leading cryptocurrency exchange, has unveiled a novel tool for investors.The MEMEMEXTUSDT Basket Index Perpetual Swap Contract. This unique product allows traders to gain exposure to the top ten memecoins via a single contract, streamlining what has traditionally been a complex trading process. The product is akin to a memecoin version of the S&P 500 index, providing a comprehensive solution for enthusiasts. The MEMEMEXTUSDT index is designed based on the weighted average price of the top ten memecoins by market capitalization. To ensure its accuracy and relevance, the index components will undergo monthly rebalancing. This USDT-margined linear perpetual swap offers up to 25x leverage, allowing investors to manage risks and maximize potential returns effectively. In its press release, BitMEX likened the MEMEMEXTUSDT contract to the S&P 500, suggesting it offers a similar all-encompassing investment solution but tailored for the memecoin market. The contract aims to enhance liquidity, making it easier and cost-effective for traders to execute transactions. This feature is particularly advantageous in the often-volatile memecoin market, where liquidity can be scarce.
To celebrate the launch, BitMEX is offering a reward pool of up to $10,000 in USDT for traders using the MEMEMEXTUSDT contract. The top-performing traders will share this reward, providing an additional incentive for early adopters.
#bitmex #SOFR_Spike #US_Job_Market_Slowdown #Megadrop #BinanceTournament
BitMEX Founder Arthur Hayes Details Path Forward for Bitcoin Amid an ‘Apocalyptic’ Mood – Here’s His
BitMEX founder and crypto veteran Arthur Hayes is detailing his outlook for Bitcoin (BTC) amid a market downturn.
In a new blog post, Hayes says that Bitcoin and other crypto assets could benefit from the interest income earned on US government paper.
The BitMEX co-founder says that while forecasts are suggesting a drastic drop, he sees Bitcoin falling mildly by less than 5% from the current level.
“I also believe that at some point, more investors will do the maths and realize that the Fed and US Treasury combined are handing out billions per month to wealthy savers. This money has to go somewhere, and some of it will flow into tech stocks and crypto. As apocalyptic as the mainstream financial media might sound vis-a-vis a sharp correction in crypto prices, there is a lot of cash that needs a home in finite-supply financial assets like crypto.
While some think we are going to break back below $20,000 on Bitcoin, I tend to think we spend the beginning of Q3 chopping around $25,000. The ability for crypto to weather the storm will be directly related to the amount of interest income looking for a new home.”
Bitcoin is trading at $26,072 at time of writing.
The crypto capitalist further says that the Federal Reserve’s moves to address liquidity pressures facing US banks will have bullish implications for risk assets like crypto and tech stocks.
“One of Bitcoin’s value propositions is that it is the antidote for a broken, corrupt and parasitic fiat banking system. Therefore, as the banking system falters, Bitcoin’s value proposition grows stronger.
Also, Bitcoin benefits from increased fiat liquidity. Rich people don’t need real stuff; they need financial assets so they can effortlessly consume to their heart’s desire. Bitcoin has a finite supply, and therefore as the denominator of fiat toilet paper grows, so will Bitcoin’s value in fiat currency terms. This is why Bitcoin is up 18% since March.
As long as the Fed is committed to its current path, tech stocks and crypto will continue rising. Apart from big tech and crypto, nothing else returns more than just parking your money with the Fed earning close to 6%.”
*Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#bitmex #BinanceTournament
In a new blog post, Hayes says that Bitcoin and other crypto assets could benefit from the interest income earned on US government paper.
The BitMEX co-founder says that while forecasts are suggesting a drastic drop, he sees Bitcoin falling mildly by less than 5% from the current level.
“I also believe that at some point, more investors will do the maths and realize that the Fed and US Treasury combined are handing out billions per month to wealthy savers. This money has to go somewhere, and some of it will flow into tech stocks and crypto. As apocalyptic as the mainstream financial media might sound vis-a-vis a sharp correction in crypto prices, there is a lot of cash that needs a home in finite-supply financial assets like crypto.
While some think we are going to break back below $20,000 on Bitcoin, I tend to think we spend the beginning of Q3 chopping around $25,000. The ability for crypto to weather the storm will be directly related to the amount of interest income looking for a new home.”
Bitcoin is trading at $26,072 at time of writing.
The crypto capitalist further says that the Federal Reserve’s moves to address liquidity pressures facing US banks will have bullish implications for risk assets like crypto and tech stocks.
“One of Bitcoin’s value propositions is that it is the antidote for a broken, corrupt and parasitic fiat banking system. Therefore, as the banking system falters, Bitcoin’s value proposition grows stronger.
Also, Bitcoin benefits from increased fiat liquidity. Rich people don’t need real stuff; they need financial assets so they can effortlessly consume to their heart’s desire. Bitcoin has a finite supply, and therefore as the denominator of fiat toilet paper grows, so will Bitcoin’s value in fiat currency terms. This is why Bitcoin is up 18% since March.
As long as the Fed is committed to its current path, tech stocks and crypto will continue rising. Apart from big tech and crypto, nothing else returns more than just parking your money with the Fed earning close to 6%.”
*Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#bitmex #BinanceTournament
BitMEX founder and former CEO Arthur Hayes declared that a so-called altcoin season is on the horizon.
#bitmex #arthurhayes #altseason #bullmarket #cryptoonindia
#bitmex #arthurhayes #altseason #bullmarket #cryptoonindia
Bitcoin falls for $8.9k in Bitmex
Bitcoin experienced a significant correction, losing nearly 7% of its market cap within 24 hours. However, a dramatic turn occurred on the BitMEX platform where Bitcoin's price plummeted to $8,900 from $64,000 before swiftly rebounding to near $67,000. This was attributed to a large-scale sale of over 850 BTC by a market whale. BitMEX is investigating this unusual activity, reassuring that user funds remain secure and unaffected in their derivatives market.
#write2earn #trendingtopic #crypto #bitmex #bitcoin
$BTC
Bitcoin experienced a significant correction, losing nearly 7% of its market cap within 24 hours. However, a dramatic turn occurred on the BitMEX platform where Bitcoin's price plummeted to $8,900 from $64,000 before swiftly rebounding to near $67,000. This was attributed to a large-scale sale of over 850 BTC by a market whale. BitMEX is investigating this unusual activity, reassuring that user funds remain secure and unaffected in their derivatives market.
#write2earn #trendingtopic #crypto #bitmex #bitcoin
$BTC
