A new choice for coin speculators! BitMEX launches “Meme Index Perpetual Contract”
A new option for leveraged contract operators? The well-known cryptocurrency exchange BitMEX announced yesterday (4th) the launch of a new product "Meme Basket Index Perp" and likened it to the S&P 500 Index of the cryptocurrency meme track.
What is the BitMEX Meme Index Perpetual Contract?
According to BitMEX, the index contract (Basket Index Perp) is a leveraged derivative product linked to a basket of underlying assets, allowing users to invest in the overall performance of a certain track at one time instead of just betting on a single token.
The Meme Index Perpetual Contract is a product based on the BitMEX Meme Index. The maximum leverage is 25 times. Users can invest in mainstream meme currencies without actually owning all the tokens of the Meme Index.
What coins are included in the BitMEX Meme Index?
The components of the BitMEX Meme Index are the top 10 meme coins by market capitalization: Dogecoin ($DOGE), Shiba Inu Coin ($SHIB), Pepe Wrogcoin ($PEPE), and Dogecoin ($WIF) $FLOKI, $BONK, etc. are adjusted every month to achieve balance. Currently, $DOGE, $SHIB, and $PEPE have a relatively high proportion, as shown below:
Source: BItMEX BitMEX launches “Meme Index Perpetual Contract”
The cryptocurrency market meme circuit has paid well so far this year and has attracted the attention of many investors. According to data from the cryptocurrency ranking website CoinGecko, in the first quarter of this year (January to March), the return rate of the top ten meme coins by market value was 1,312.6%, making it the track with the highest return rate.
What are the risks of BitMEX Meme Index Perpetual Contracts?
Just like general leveraged perpetual contracts, BitMEX Meme Index Perpetual Contracts are also high-risk derivatives. Although high leverage allows investors to make big gains with small gains, if their judgment is wrong and leads to losses, and the margin cannot support the position, they will be forced to liquidate (liquidate the position).
Investors also need to pay attention to short-term violent fluctuations, pins and funding fees. Funding fees are usually paid every 8 hours. Long-term holding of perpetual contracts will also cause fees to gradually accumulate.
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To celebrate the launch of the new product, BitMEX Official Until 7:59 a.m.:
Follow official X, like and retweet event posts
Tag three friends and add @BitMEX in the comment box
Join the official Telegram community (you can attach a screenshot of joining the group in the message box)
In addition, BitMEX’s official Chinese
[Disclaimer] There are risks in the market, so investment needs to be cautious. Leveraged perpetual contracts are high-risk derivatives, and the margin invested by investors will be reset to zero due to liquidation. Users should consider whether any opinions, views or conclusions expressed in this article are appropriate to their particular circumstances. Invest accordingly and do so at your own risk.