The exchange likely developed this offering in response to meme coin popularity. Meme coins are digital currencies based on humorous internet memes, and can also be created to poke fun at the crypto world itself.
Derivatives exchange BitMEX is offering a way to bet on popular meme coins with a new basket index product. This offering began trading on July 4 at 04:00 UTC, according to a Thursday announcement.
BitMEX Rolls Out New Basket Index for Top 10 Crypto Meme Coins