- OKX continues to ride the wave of the ongoing memecoin frenzy.
- The exchange added two memecoins to its perpetual futures market.
- The development came a day after the memecoins were listed on OKX’s spot market.
Crypto exchange OKX is seizing the opportunity to ride the wave of the ongoing memecoin frenzy on the Solana blockchain, which has seen some tokens pump into multimillion-dollar market caps within days.
On Tuesday, the exchange announced it had listed Solana-based memecoins WIF and MEW on its perpetual futures market, a day after the tokens were listed on the exchange’s spot market on April 15.
OKX’s WIF and MEW Perpetual Futures
According to the official statement, users can now access USDT-margined perpetual futures for MEW (MEW/USDT index) and USDT-margined perpetual futures for WIF (WIF/USDT index) via the OKX platform.
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With the new additions, users can “long or short the SPL tokens with up to 50x leverage,” with USDT being the settlement asset for both perpetual futures. Moreover, the price quotations for both futures are calculated in USDT equivalent, with a tick size of 0.000001 for MEW and 0.001 for WIF.
Following today’s listing, OKX said it would enable spot margin trading for MEW/USDT and WIF/USDT pairs and Simple Earn for WIF and MEW on April 18 at 4:00 AM (UTC).
While the development marked a milestone for the memecoin segment, it did not impact the prices of the underlying tokens. At last check, WIF had lost as much as 12.73% in the last 24 hours, while MEW was down 7.17% during the same period.
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OKX has now listed a total of 11 memecoins on its futures market, including the two latest additions. In contrast, the exchange has listed 19 memecoins on the spot market.
Read about Coinbase’s move to list PEPE on futures:
Coinbase Lists PEPE On Futures After a Year of Holding Back
Stay updated on Omni Network’s (OMNI) debut on Binance Launchpool:
Omni Network (OMNI) Debuts on Binance Launchpool as 52nd Project
