Memecoins
VanEck’s MarketVector Launches Meme Coin Index
VanEck’s MarketVector introduced the Meme Coin Index, a benchmark that tracks the six largest coins by market capitalization.
The index, which caps the weighting of individual coins at 30% to maintain diversification, is reviewed monthly to stay current. This cap ensures that no coin disproportionately influences the index. THE MEMECOIN Index is a tool for institutional and retail investors, providing insight into a volatile and emerging market.
For institutional investors, the tool provides a structured entry point into the unpredictable piece of money walk. The index provides a consolidated view of its most influential assets and reduces the need for direct exposure to individual coins. On the other hand, retail investors can use the index to understand the relative performance and market share of their favorite coins.
“If memes are the new alpha, this new index from MarketVector could capture the zeitgeist of the crypto space like no other benchmark can.” Matthew Sigel, VanEck’s head of digital assets research told crypto.news. “We can’t wait to see what others build from this.” »
Credit: VanEck
Dogecoin (DOGE) currently leads the index at 30.77%, highlighting its established presence, followed closely by Shiba Inu (SHIB) at 28.34%. Newcomers Pepe (PEPE) at 14.51%, Dogwifhat (Wireless) at 12.54%, Floki Inu (FLOKI) at 7.14%, and BONK at 6.7% complete the remaining weightings.
Despite a recent slight decline, the meme coin index has surged more than 202% over the past year, providing a window into the explosive growth and speculative interest in this unique segment of the market. crypto market.