Massive Volume Spike Sees ByBit Immediately Launch Perpetual Futures Trading, $WSM Price Climbs 19%
Thursday, October 12th, 2023 – ByBit exchange has launched Wall Street Memes ($WSM) perpetual futures trading today and the price is pumping.
The newest hot meme coin is up as much as 19% on the ByBit $WSM/USDT perps market as an influx of traders pushes the price higher to $0.0394 after recent profit taking.
The coin is still at a highly attractive valuation, registering a market capitalization of $64 million compared to the $8 billion and $4 billion for Dogecoin and Shiba Inu, respectively. Pepe is on $245 million.
10x or even 100x returns are in the frame at current prices. $WSM recently exited its presale at a price of $0.0337. Early buyers were able to get in at the lowest price of $0.025.
ByBit is the fifth-ranked centralized exchange according to Coinmarketcap data.
In the derivatives market ByBit is ranked second, with 24-hour trading volume of $7.4 billion. The futures markets in crypto are much larger than their spot counterparts.
But in the spot market too, ByBit is one of the giants. Here it has an exchange score of 7.1, which Coinmarketcap bases on web traffic, trading volume, average liquidity, and confidence in the veracity of volume data, it has 24-hour trading volume of $972 million in the spot markets.
If you wish, you can buy $WSM directly on the Wall Street Memes website with ETH, USDT or your bank card.
The latest news means a spot listing on ByBit could be expected to follow. The speed at which ByBit responded to yesterday’s volume surge, which came in the midst of a short squeeze campaign that the Wall Street Memes team set in motion, speaks to the growing traction the community-led project is garnering.
The project has set itself the mission of democratizing the financial markets by rooting for the
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