Bitget Launches GMCI Meme Index on Its Futures Trading Platform

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Ruholamin Haqshanas

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Ruholamin Haqshanas

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Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

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December 6, 2024

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Crypto exchange Bitget has launched the GMCI Meme index, which contains the leading meme coins by market capitalization, on its futures trading platform.

In a press release on December 6, the company said the move is intended to celebrate the “vibrant humor and creativity” that is key to cryptocurrency culture.

The new index allows traders to tap into the rapidly evolving meme coin sector, which includes popular tokens like Dogecoin (DOGE) and Shiba Inu (SHIB).

GMCI Meme Index Includes 25 Major Meme Coins

The GMCI Meme Index focuses on leading meme coins known for their cultural impact and community involvement.

This index includes 25 prominent meme coins, such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), as well as emerging assets like Brett (BRETT), Mog (MOG), Popcat (POPCAT), and Dogs (DOGS).

The index, which has seen its year-to-date return increase to 460%, has rigorous selection criteria, including active trading volumes and substantial market capitalization.

It also has a monthly rebalancing, which ensures the index stays current with market trends.

“Crypto culture thrives on creativity and community, and meme coins embody this spirit perfectly,” said Gracy Chen, CEO of Bitget. “With the GMCI Meme index, we aim to empower traders to participate in a segment of the market that reflects the lighter side of innovation while still offering smart solutions and investment opportunities.”

Previously, Bitget added the GMCI 30 index to its futures market. This index offers a selection of the top 30 cryptocurrencies, weighted by their circulating market cap, and considers exchange and custodian support as well as sufficient liquidity.

The index has a maximum weight cap of 25% per constituent to ensure a diverse index with no single dominant asset.

Bitget Launches $20 Million Fund to Boost Telegram Mini Apps

Last month, Bitget Wallet, the non-custodial cryptocurrency wallet powered by Bitget, announced a $20 million funding program in collaboration with crypto investment firm Foresight Ventures.

The initiative aims to boost Telegram’s Mini App ecosystem and create opportunities for developers to innovate.

Telegram Mini Apps, including popular platforms like Notcoin and Hamster Kombat, played a pivotal role in driving the growth of The Open Network (TON) blockchain in 2024.

The $20 million fund isn’t the first venture by Bitget into the burgeoning TON ecosystem.

On June 25, Bitget Wallet launched a comprehensive support package for the TON network.

The initiative was intended to connect decentralized applications within the TON ecosystem and further solidify Bitget’s presence in the rapidly expanding landscape.

In addition to the wallet launch, Bitget had previously introduced the Telegram Signal Bot to streamline direct trading signals across various trading communities, enhancing trading efficiency and convenience.