HashKey Global, a prominent digital asset trading platform, has made a significant announcement regarding their entry into the meme coin market by launching three new perpetual contracts.
The company has introduced USDT-based perpetual contracts for MEW, MOG, and POPCAT, allowing users to trade MEW/USDT, MOG/USDT, and POPCAT/USDT index contracts.Â
Each contract value is set at 1000 MEW, 1,000,000 MOG, or 1 POPCAT, respectively. To manage risk while providing opportunities for traders, HashKey Global has capped the maximum leverage at 10 times and implemented a funding fee structure that ranges between plus or minus 0.75%, settled every 8 hours.
Market Performance of Featured Meme Coins
The launch of these new contracts coincides with a notable upward surge in the prices of the featured meme coins.
Cat in a dogs world (MEW) has shown significant growth, with its price reaching $0.006111 and a substantial 24-hour trading volume of $97,755,076. The token has experienced a 1.69% price increase in the last 24 hours and an impressive 21.58% rise over the past week. With a circulating supply of 89 billion MEW, the token’s market capitalization stands at $542,908,571.
Mog Coin (MOG) price is also moving in a similar direction and was trading at $0.051515 with a volume of $20,907,086 within the 24 hour. The past 24 hours MOG has recorded a 4.35% increase, and a 3.62% rise over the week. The coin has a market cap of $590,366,781, estimated based on its massive circulating supply of 390 trillion MOG.
Popcat (POPCAT) has emerged as the strongest performer among the three, with its price reaching $1.31 and a robust 24-hour trading volume of $129,826,890. POPCAT has surged by 9.00% in the past day and an impressive 30.40% over the week, bringing its market capitalization to $1,284,882,238 with a circulating supply of 980 million tokens.
HashKey Global’s Market Position and Regulatory Compliance
HashKey Global operates as a digital asset trading platform under the management of HashKey Bermuda Limited. The company’s operations are legitimized by a Class F license granted by the Bermuda Monetary Authority, which allows it to offer a range of mainstream trading and service products.
Among that are the invention of LaunchPad, contracts and leverage options trading option. This moves fits neatly into the platform’s push to serve as a full Swiss army knife of cryptocurrency trading, in a manner that is correlated with regulatory standards.
With this move, HashKey Global also diversifies its product offerings, while acting as a proactively forward thinking player in the newly emerging digital asset market.
Investment Considerations and Risk Disclosure
While the introduction of these new perpetual contracts presents exciting opportunities for traders interested in meme coins, HashKey Global emphasizes the importance of informed decision-making. The company explicitly states that the provided information should not be construed as an offer, solicitation, or recommendation of any investment product.
This cautionary stance underscores the volatile nature of the cryptocurrency market, particularly in the meme coin sector. HashKey Global reminds potential investors and traders that there are inherent risks associated with investing and trading in virtual assets.
This transparency in risk disclosure aligns with responsible trading practices and regulatory expectations, highlighting HashKey Global’s commitment to maintaining a balanced approach between offering innovative products and ensuring user awareness of potential financial risks.