Memecoins
How institutions and retail are shaping Memecoin investing
DUBAI, United Arab Emirates, June 4, 2024 /PRNewswire/ — Bybitone of the top three cryptocurrency exchanges in the world by volume, has released a new report: “Beyond the Hype: The Realities of Institutional Memecoin Investments.”
This analysis highlights institutional and retail involvement in the memecoin market, providing insights for investors and newcomers. The full report is now available, offering insight into the Bybit data and trends that will shape the memecoin landscape in 2024.
Bybit’s new report: How institutions and retail are shaping investments in Memecoin
Tripling of institutional holdings in Memecoin
One of the most compelling findings of the report is the dramatic increase in institutional holdings in memecoins. From February to March 2024, institutional investors saw their spot holdings in memecoin rise from $62.5 million to $204.8 million. This 226% increase highlights the substantial investor interest in the memecoin market. The full report shows what this means for the future of memecoin investing.
Huge trading volume in perpetual contracts
Institutions traded a staggering $186.6 billion in memecoin perpetual contracts in the first quarter of 2024. While maintaining a cautious approach to spot holdings, their aggressive trading of perpetual contracts demonstrates a sophisticated engagement with the volatile memecoin market. The comprehensive report allows readers to further understand how these flows influence investments in memecoins and cryptocurrencies.
Retail investors show dynamic adjustment and resilience
Contrary to the stereotype of retail investors as “dumb money,” the report highlights their adaptability. Memecoin retail holdings skyrocketed 478% from February to April 2024, reaching a peak of $567 million before shrinking to $371 million. This dynamic adjustment mirrors strategic moves by institutional investors, indicating a high level of market awareness and responsiveness among retail traders.
Discover further insights
“Our ‘Beyond the Hype’ report shows that institutional and retail investors are actively exploiting the opportunities presented by the memecoin market,” said Eugene Cheung, head of institutions at Bybit. “The strategic agility of institutions and dynamic management by retail investors reflect a sophisticated engagement with these assets. We invite everyone to delve deeper into the full report to better understand these important dynamics.”
Download the full report here
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About Bybit
Bybit is one of the top three cryptocurrency exchanges in the world by volume with 30 million users. Founded in 2018. It offers a professional platform where cryptocurrency investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of the reigning Formula 1 constructor and driver champions: the Oracle Red Bull Racing team.
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