The Meme Coin sector has seen another sharp move as the SPX6900 (SPX) jumps 16% in the last 24 hours.
The volume of popular token trading has skyrocketed after the much-anticipated Coinbase list.
Meanwhile, Meme Index (Memex) has also gained traction. This earned $4 million in the presale stage.
SPX6900 surge when Coinbase launches permanent futures trading
The SPX6900 was spiked after Coinbase International Exchange introduced Meme Coin’s permanent futures trading earlier today.
The token skyrocketed to $0.72 as trainers rushed to take advantage of the leveraged position.
These new futures contracts offer up to 20x leverage on USDC payments, opening the door to speculate on SPX price movements.
Unlike standard futures, perpetual contracts do not expire.
This allows traders to hold positions indefinitely as long as they maintain sufficient margins.
The response to Coinbase’s list was explosive.
SPX’s spot trading volume has risen to $27 million over the last 24 hours, with Crypto Twitter’s sentiment being bullish.
For longtime SPX owners, this moment feels like a validation of a project that has struggled with momentum last month.
Still, some experts believe today’s rally will be burning fast.
They believe that the initial euphoria will die and that SPX will remain vulnerable to sharp corrections.
Meme Coin Market stalls, but SPX6900 goes against trend
The SPX6900 rally stands out against the meme coin sector, which was primarily stagnant in February.
Market leaders Doge and Shib have recorded small profits in the past days, but most of their competitors either trade sideways or fall.
For example, Floki has dropped by 4% since yesterday.
The total memecoin’s market capitalization is below $70 billion, but when it hits $117 billion, it is still quite a shortfall in January.
This flat performance reflects the broader uncertainty about crypto as investors navigate several conflicting signals.
One of these is regulatory concerns.
While Europe has tightened regulations on Stablecoin, the US is considering stricter reporting requirements for the Defi platform.
Plus, stubborn inflation numbers prevent the Federal Reserve from cutting back and further weakening investor enthusiasm.
The market appears to be in “wait and watch” mode.
The fact that Bitcoin is still below $100,000 did not help with the problem. The code’s fear and greedy index currently remains at 49, covering the realm of “fear.”
Meme Index goes viral with an ETF-style approach to meme coins, raising $3.7 million
SPX benefits from Coinbase Fueled Hype, but another project is stimulating serious talk.
Meme Index raised $3.7 million from Presale, with early investors securing Memex Tokens for just $0.0163,585.
Think of meme index as meme coin ETFs.
Unlike most of these coins that rely solely on hype, meme indexes have real use cases.
There are four different coin indexes: Titan, Moonshot, Midcap and Frenzy, tailored to different risk levels.
These indices give a diverse exposure to the meme coin market without the hassle of studying dozens of individual tokens.
The team is trying to solve the biggest problem with memecoin. Choose the winner.
Also, YouTuber Claybro, with over 136,000 subscribers, said that if the show takes place later this year, the Meme Index could become “10x the winner.”
Claybro also noted that Memex Holders has a say in how each index is constructed.
https://www.youtube.com/watch?v=yhhuqv5lufg
Memex Holders can vote on which coins to include in each index, ensuring that your portfolio evolves with the market.
Meme Index also has a staking program that offers 603% APY.
Some early backers are currently comparing the early run of Meme Index’s Presale Momentum and the SPX6900, suggesting a similar upward possibility when Memex hits the exchange.
They may be correct given the growing need for meme coin space structure.
Visit Meme Index Presale
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