Derivatives cryptocurrency exchange BitMEX has launched the MEMEMEXTUSDT Basket Index Perpetual Swap Contract offering traders exposure to the top 10 memecoins in the market through a single contract.

The BitMEX memecoin basket index is constructed as a weighted average price of the top 10 memecoins by market capitalization, with the index constituents rebalanced monthly to ensure it continues to track the best-performing memecoins. It is a USDT-margined linear perpetual swap offering up to 25x leverage.

BitMEX's new memecoin basket index

"The MEMEMEXTUSDT perpetual swap allows traders to easily diversify their exposure across the top memecoins and capitalize on the latest market trends – all while managing risks effectively," BitMEX CEO Stephan Lutz said.

According to BitMEX, the new …