Since opening its presale in December, the primary meme coin index within the area, Meme Index ($MEMEX), has raked in fairly a little bit of capital funding.
Up to now, it has raised almost $3.8 million, even amid the broader market slowdown. Regardless of the fiasco brought on by the Libra ($LIBRA) rip-off, meme cash are right here to remain.
Argentine President Milei’s actions solely served as a impolite awakening for crypto buyers and maybe the maturity the sector wants.
The Meme Index affords a means for the complete meme coin sector to maneuver ahead by permitting buyers to spend money on a basket of meme cash fairly than particular person tokens, distributing the danger as a substitute of concentrating it on one asset.
Bitwise Chief Funding Officer Matt Hougan additionally sees an index-based strategy as the best way crypto ETFs will transfer ahead and take the trade to even better heights.
For buyers seeking to get in early on what may very well be crypto’s subsequent massive leap, $MEMEX will be secured at its present worth of $0.0163585 per token for the subsequent 16 hours earlier than a scheduled worth improve alerts the beginning of the subsequent funding stage.
Bitcoin ETFs are already rivaling gold ETFs in AUM – and that is just the start
The AUM for Bitcoin exchange-traded funds (ETFs) within the U.S. is reportedly round $120 billion, with the biggest iShares Bitcoin Belief (IBIT) already competing with main gold-backed ETFs.
Its AUM is creeping as much as gold’s $80 billion, reaching $55.2 billion.
But, based on Hougan, the market can count on additional progress, and he believes there may be nonetheless room for growth.
He even means that the biggest ETP within the U.S. hasn’t launched but, with projections wanting past the subsequent 10 years.
The San Francisco-based government believes that an index-based ETF, such because the Hashdex Nasdaq Crypto Index ETF, which incorporates Bitcoin and Ethereum ($ETH), will drive the trade ahead.
Quickly, this might embody digital property like Ripple ($XRP) and Solana ($SOL), each of which have ETFs lined up.
From an investor’s perspective, there’ll all the time be peaks and valleys within the worth of any given asset, particularly with crypto.
Nonetheless, by spreading the danger throughout a basket of property, these peaks and valleys are much less frequent.
No different index would higher replicate a transparent upward trajectory with minimal drawbacks than the chart of the S&P 500.
Because the crypto trade matures, with the costs of different property now not tied to Bitcoin, an index-based ETF may probably mimic the identical motion because the U.S. benchmark index.
The meme coin sector has huge potential, and the Meme Index makes leaping in safer and safer
Meme cash, as a subsector of crypto, are nonetheless within the early phases of progress.
It’s a market filled with alternatives, however sadly, many dangerous actors (notably these with affect and energy) have taken benefit of it.
A major instance of this was the $LIBRA token, whose inside workings earlier than the eventual rug pull at the moment are being revealed.
The market has grown more and more annoyed by these recurring incidents, with buyers searching for meme cash which have the potential to attain the identical standing because the established sector leaders like Dogecoin ($DOGE), Shiba Inu ($SHIB), and Pepe ($PEPE).
Whereas lots of these kind of tokens can be found, it’s difficult to establish them earlier than they acquire a cult-like following that drives their worth to the stratosphere.
As talked about, the Meme Index affords an answer via diversification, which not solely spreads the danger throughout a variety of property but additionally protects buyers from the big losses sometimes related to rip-off tokens.
Moreover, with the Meme Index, buyers can select the extent of threat they’re comfy with, because the platform affords 4 completely different index choices.
The Meme Index may very well be the blueprint for a future meme coin ETF
The crypto trade has simply celebrated the primary month of what may very well be a extra regulatory-friendly setting for crypto property over the subsequent 4 years.
From a time when discussing crypto in conventional finance circles was taboo, the trade has firmly established itself throughout the world of finance.
As soon as extra cryptocurrencies have their very own ETFs, it wouldn’t be stunning to see a $DOGE or $SHIB ETF launching quickly to characterize the meme coin sector.
In spite of everything, meme cash stay a $67 billion market, with legions of holders keen to carry on indefinitely to their favourite meme cash.
If that’s the case, a meme index ETF would take advantage of sense, because the aforementioned peaks and valleys can be considerably decreased, making the complete ETF far more interesting to buyers – notably these with no actual publicity to digital property.
The Meme Index, with its 4 distinct indexes: Meme Titan Index, Moonshot Index, Midcap Index, and Meme Frenzy Index, may function a strong blueprint for a meme coin ETF.
These indexes are labeled based mostly on market capitalization. The Meme Titan Index, which options property valued at over $1 billion, is the blue-chip meme coin index.
On the different finish of the spectrum is probably the most speculative index, the Meme Frenzy Index, which is good for buyers searching for the best potential return if share of the tokens in that basket carry out effectively.
The best way to get the $MEMEX whereas in presale
The Meme Index is solely out there to $MEMEX holders, and tokens can at present be acquired throughout the ongoing presale.
Merely go to the Meme Index web site, join your pockets (e.g. Greatest Pockets), and buy $MEMEX utilizing USDT, ETH, BNB, or perhaps a financial institution card.
As governance tokens, $MEMEX holders have the facility to affect the tokens included in every index and even suggest new indexes altogether.
The Meme Index platform has undergone audits by respected corporations corresponding to Coinsult and SolidProof, making certain the safety of its good contracts.
Be part of the Meme Index neighborhood on Telegram and X.
The put up Bitwise CIO Says ‘Index-Primarily based Strategy’ is Key for Crypto ETFs – May a Meme Index ETF Be Subsequent? appeared first on Cryptonews.
