On June 4, 2024, cryptocurrency exchange Bybit released its latest report titled “Beyond Hype: Institutional Investors’ Actual Involvement in Meme Coin Investments.” The report offers insights into the participation of institutions and retail investors in the meme coin market, providing valuable information for investors and newcomers. Utilizing first-hand data and trends from the Bybit platform, the report delves deep into the meme coin landscape in 2024. The complete report is now available online.
One of the most notable findings in the report is the significant increase in meme coin holdings by institutional investors. From February to March 2024, institutional investors’ spot holdings of meme coins surged from $62.5 million to $204.8 million, marking a staggering 226% increase and highlighting investors’ strong interest in the meme coin market. The full report further explores the significance and implications of this trend for future meme coin investments.
Massive trading volume in perpetual contracts was another highlight of Q1 2024, with institutions trading a staggering $186.6 billion worth of meme coin perpetual contracts. While institutions have been cautious in spot holdings, their highly proactive behavior in perpetual contract trading demonstrates their active involvement in the highly volatile meme coin market. Readers can gain further insight into how these trades impact meme coins and overall cryptocurrency investments through the complete report.
Retail investors, often referred to as “dumb money,” were found to possess remarkable adaptability. From February to April 2024, retail investors’ meme coin holdings skyrocketed by 478%, reaching a peak of $567 million, before subsequently declining to $371 million. This “dynamic adjustment” aligns with institutional strategic shifts, providing evidence of retail investors’ high market sensitivity and adaptability.
Eugene Cheung, Head of Institutional at Bybit, stated, “The ‘Beyond Hype’ report reflects the proactive utilization of opportunities presented by the meme coin market by both institutions and retail investors. The strategic flexibility of institutions and the dynamic management of retail investors demonstrate their growing understanding and involvement in this asset class. We welcome everyone to read this report together to better grasp the market dynamics.”
Click here to download the complete report.
About Bybit:
Established in 2018, Bybit is a top-three global cryptocurrency exchange with over 30 million users. It provides a professional platform for cryptocurrency investors and traders, including a lightning-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a partner of the Formula One racing team and driver champions, the Oracle Red Bull Racing Team. For more information about Bybit, please visit Bybit Press.
For more details, please visit: https://www.bybit.com
