Matthew Sigel, head of digital asset research at VanEck, a Wall Street asset management company and financial ETF issuer, posted on the "These tokens are for entertainment purposes only," showing Wall Street's current interest in meme currency layouts.
VanEck's @MarketVector launches $MEMECOIN index, top 6 assets, 30% cap.
Warns potential customers: "These coins are intended for entertainment purposes" pic.twitter.com/ihjhfCNIR4— matthew sigel, recovering CFA (@matthew_sigel) May 8, 2024
Meme Coin Index covers 6 tokens
According to MarketVectordata , the index tracks six of the largest meme coins in the crypto market, including $DOGE, $SHIB, $PEPE, $WIF, $FLOKI and $BONK, and a single token is in the index The weight limit is 30%.
However, some netizens questioned that $DOGE's weight exceeds 30% and has exceeded the weight limit. Matthew Sigel said: "The index weight will be rebalanced every month." Interestingly, 5 of the 6 meme tokens are Dog tokens.
Memecoin Index Gains Better Than Bitcoin and Ethereum Indexes
On the other hand, according to MarketVector'sone-year data , the meme currency index began to rise at the end of February, and once exceeded 300% in mid-March, and then fell back to between 150% and 250%. In addition, the rise of the Meme Coin Index exceeded that of 21Shares Bitcoin Suisse Index ETP (ABBA) on March 2 and has not risen below ABBA since then. ABBA is an index that tracks the prices of Bitcoin and Ethereum. The index of Bitcoin and Ethereum The weight of Ethereum is approximately 77% and 23%.
As of yesterday (8th), the Meme Coin Index has increased by 195.22%, and ABBA has increased by 111.51%, showing that Meme Coin has performed significantly better than Bitcoin and Ethereum in this rising market.
