Our weekly crypto derivatives analytics report delves into macro events; the current state of crypto and trading signals from spot trading volume; and futures, options and perpetual contracts.

As markets near US president Trump's "Liberation Day" for tariffs, crypto remains volatile. BTC has dropped from a local high of $88K to $82K amid signs that tariffs will affect many countries. Implied volatility has spiked and then eased. Other derivatives market metrics show that BTC and ETH volatility smile skews remain significantly skewed toward puts, a level last seen in March 2023.

Please check out the report’s highlights.

BTC options show signs last seen in March 2023

As crypto prices remain highly correlated with macro-sensitive assets, the week began with a surge in short-tenor implied volatility for BTC and ETH. The sell-off continued as President Trump announced tariffs affecting about 90 countries. BTC's front-end volatility quickly fell below longer maturities, and short-dated volatility smiles briefly favored OTM puts, reminiscent of levels seen during the March 2023 US banking crisis. 

SOL options remain the least traded among major cryptocurrencies (i.e., BTC and ETH), but there was a significant rise in call options this week, dominating both volume and open interest. Following the Mar 28, 2025 expirations, many contracts weren’t reopened, with the notional size of call contracts decreasing from over $3.2M to around $2.5M. However, there has been a slight increase in the notional size of open put options, as traders respond to a continued decline from the January all-time high of $250.

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Bybit X Block Scholes crypto derivatives analytics report (Apr 2, 2025): BTC option skews show a bearish sign last seen in 2023

Fidelity recently announced that it would be launching its own stablecoin, to be pegged to the US dollar. Learn more here.

After first making headlines upon filing paperwork for its very own money market fund, Fidelity seems to be taking the next step toward this grand goal by issuing its own 

 pegged to the US dollar could be the start of a multi-stage scheme to help crypto achieve mainstream adoption.

If you're new to fund-issued stablecoins, or perhaps a crypto beginner whose attention has been piqued, you might be wondering how Fidelity’s stablecoin could impact the crypto market. From highlighting how the Fidelity stablecoin differs from its other fiat-backed counterparts (e.g., 

) to elaborating on the possible motives for launching it, here's everything you need to know about the proposed Fidelity stablecoin.

Founded in 1946, Fidelity Investments has built a reputation as a leader in financial services. To date, it's managed trillions of dollars in assets for individuals and institutions alike. 

Known for its innovative approach to investing, Fidelity has consistently stayed ahead of the curve by embracing new technologies and trends. From mutual funds to retirement accounts, it's fair to say that Fidelity is a trusted name in finance, and has successfully established its presence, thanks to its storied legacy in financial services.

Fidelity’s foray into crypto isn’t new. With the demand for digital asset services growing larger over time, the company has quietly been building its presence in the crypto space through 

 since 2018, with dedicated service that provides custody and trading services for institutional and individual investors.

By launching its own stablecoin, Fidelity is taking this commitment toward 

 innovation to the next level, signaling its belief in the long-term growth potential of digital assets.

Like many of its popular stablecoin counterparts, Fidelity’s stablecoin is pegged to the US dollar. This ensures price stability, a critical feature for traders looking to mitigate risk amid 

. Built on blockchain technology, this stablecoin is ostensibly designed to integrate seamlessly with Fidelity’s broader ecosystem of tokenized financial products. This means users can expect a secure, efficient and transparent digital asset that aligns with Fidelity’s high standards.

 like Tether’s USDT and Circle’s USDC dominate the market, Fidelity’s offering brings something unique to the table: trust. As a regulated financial institution with decades of experience, Fidelity offers a level of credibility that few other stablecoin issuers can match. Furthermore, its focus on regulatory compliance positions it as a safer alternative for both retail and institutional investors.

Fidelity’s stablecoin represents a deliberate effort to integrate its institutional expertise with blockchain’s efficiencies. By creating a dollar-pegged digital asset, the firm aims to serve as a trusted intermediary for clients navigating both traditional and crypto markets. Moreover, the Fidelity Digital Assets division has already laid the groundwork through Bitcoin custody services and 

. The proposed stablecoin extends this infrastructure, allowing institutional investors to transition seamlessly between volatile cryptocurrencies and stable-value instruments without exiting Fidelity’s ecosystem.

The stablecoin market has grown exponentially, surpassing $200 billion in 2025. This surge is largely being driven by demand for volatility hedging and cross-border payment efficiency. Fidelity recognizes that traders and institutions increasingly require reliable on-ramps between fiat and crypto. Its stablecoin offers a compliant alternative to incumbents, such as Tether and Circle, who face lingering skepticism about reserve transparency. By entering this space, Fidelity would not only meet immediate demand, but position itself as a leader in institutional-grade digital assets, thus appealing to risk-averse entities.

The US regulatory landscape under the current administration has shifted decisively toward crypto-friendly policies, and the Stablecoin Innovation Act and the GENIUS Act are advancing through Congress, aiming to establish clear rules for reserve backing and 

 compliance. Designed with Treasury reserves and audit transparency, Fidelity’s stablecoin aligns with these impending standards. By proactively adopting regulatory best practices, Fidelity avoids the scrutiny faced by Tether — and positions its stablecoin as a “gold standard” for institutional adoption.

Stablecoins generate revenue through interest earned on reserve assets. For example, Tether reported over $6 billion in net income in 2024 from its treasury holdings. Fidelity already manages $80 billion in its Treasury Digital Fund, and can potentially monetize its stablecoin reserves while offering competitive yields to clients. This creates a dual revenue stream, consisting of fees from asset management and interest from stablecoin reserves.

The stablecoin market remains dominated by Tether and Circle, but their retail-focused models leave room for institutional alternatives. Fidelity’s brand reputation, combined with its existing relationships with hedge funds and pension plans, gives it a unique edge. For example, its stablecoin could integrate directly with retirement accounts, allowing 401k participants to allocate to crypto without custody risks. This differentiation is critical as rivals like BlackRock and Franklin Templeton expand their tokenized offerings.

While details are still scarce, the following are some likely use cases for the Fidelity stablecoin.

Using Fidelity’s stablecoin for staking

One of the most exciting use cases for Fidelity’s stablecoin is staking. For traders and investors, staking offers an opportunity to 

 by locking up their assets in support of blockchain networks. With Fidelity’s stablecoin, users could stake their holdings with confidence, knowing they’re backed by one of the most trusted names in finance.

Enhancing market liquidity and capital efficiency

Fidelity’s stablecoin is also expected to enhance liquidity across trading platforms. By providing a reliable medium of exchange that 

 fiat currency and digital assets, this stablecoin could streamline trading operations and reduce transaction costs, creating a win-win for traders and exchanges.

Facilitating real-world asset (RWA) tokenization

Fidelity's stablecoin is strategically positioned to drive the tokenization of RWAs by democratizing access through fractional ownership of commodities and real estate, thus streamlining the trading and settlement of tokenized securities as a stable exchange medium. This could ultimately foster a more efficient and transparent payment ecosystem for tokenized goods and services.

How will this impact the current crypto landscape?

Legitimization and mainstream adoption of crypto

Fidelity's established reputation within traditional finance lends significant credibility to the crypto space. This legitimacy can alleviate concerns among mainstream investors who have been hesitant, due to perceived risks or a lack of understanding. By offering a regulated stablecoin, Fidelity signals that digital assets are becoming a legitimate part of the broader financial landscape, encouraging greater participation from institutional and retail investors alike. This increased confidence can lead to wider adoption of crypto-related products and services, integrating them into everyday financial transactions.

Market stabilization and increased liquidity

The substantial capital that Fidelity brings to the market can significantly increase liquidity, reducing price volatility and making crypto assets more attractive to traditional investors. Increased liquidity facilitates smoother trading and reduces the risk of significant price swings, creating a more stable and predictable market environment.

Fidelity's involvement encourages dialogue between regulators and established financial institutions, leading to clearer and more comprehensive regulatory frameworks for stablecoins and other digital assets. By leveraging its existing compliance and risk management expertise, Fidelity can contribute to the development of robust security standards and best practices for the crypto industry. This increased regulatory clarity and security can reduce the risk of fraud and market manipulation, fostering greater trust and confidence among investors.

he introduction of a regulated stablecoin from a trusted institution can accelerate the integration of traditional financial products and services into the 

 (DeFi) space. Such integration can lead to the development of innovative financial instruments, such as tokenized securities and decentralized lending platforms, bridging the gap between TradFi and DeFi while allowing for far greater capital efficiency within the DeFi space.

Driving crypto infrastructure standardization

Fidelity's participation can drive the development of standardized infrastructure and interoperability protocols, facilitating seamless transactions across different blockchain networks and traditional financial systems. This standardization could improve the efficiency and scalability of the crypto market, thereby enabling greater adoption and integration with existing financial infrastructure.

What are the challenges that Fidelity may face?

While Fidelity's late entry into the stablecoin market is promising, due to its institutional credibility and regulatory focus, it does face substantial challenges. At the top of the list of Fidelity’s potential challenges: competing with established stablecoin giants like USDT and USDC will require Fidelity to demonstrate superior transparency, security and seamless integration of the Fidelity stablecoin within existing ecosystems. 

Building trust with a potentially hesitant crypto native demographic and overcoming established network effects will also require strategic partnerships, competitive incentives and a flawless track record in maintaining a stable peg to the US dollar.

The regulatory environment surrounding stablecoins is rapidly evolving. Recent developments such as the 

 (GENIUS) Act signal a more favorable stance toward crypto in the United States. For companies like Fidelity, this creates an opportunity to innovate within clear regulatory frameworks while addressing concerns around transparency and accountability. However, this evolving legislative landscape doesn't mean that Fidelity is out of the woods yet. This is especially so because regulations aren’t uniform across all jurisdictions. Therefore, Fidelity will need to demonstrate regulatory agility and adaptability to navigate these varying requirements.

Lastly, while there’s speculation that the Fidelity stablecoin could play a huge part in the company’s tokenized money market fund offering, there’s currently nothing set in stone. This is due to the inherent complexities of integrating a newly launched stablecoin into existing financial products, as well as the need to navigate potential regulatory hurdles related to that integration. Since Fidelity Digital Assets and 

 are two separate entities, there will likely be some coordination needed before Fidelity can incorporate its stablecoin into its onchain bond market.

Fidelity’s launch of its own stablecoin marks an important milestone in the evolution of digital finance. By combining stability with trust and regulatory compliance, this new offering has the potential to reshape the way traders interact with crypto. For beginners looking for a safe entry point into crypto, as well as experienced traders seeking reliable tools for staking and liquidity management, Fidelity’s stablecoin offers an enticing proposition. 

Likewise, for institutional traders, the proposed stablecoin provides a compliant and secure bridge between traditional finance and DeFi, unlocking new avenues for managing assets and diversifying portfolios. While challenges remain, Fidelity’s entry is poised to accelerate the integration of digital assets into mainstream finance, ultimately paving the way for wider adoption and innovation.

Intermediate

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Fidelity’s new stablecoin: A bold step into crypto stability

Learn how Amnis Finance (AMI) transforms APT staking with liquid staking solutions. Earn rewards, maintain liquidity, and explore DeFi opportunities seamlessly.

 (DeFi) enthusiasts passionate about exploring the endless opportunities in the crypto market.

, through which your assets are locked for a fixed period and can’t be used for other purposes, liquid staking solutions offer the flexibility to channel your staked assets to yield-generating ventures while preserving liquidity. 

One such platform is Amnis Finance, a pioneering liquid staking protocol on the 

 that provides investors with yield-bearing tokens to leverage DeFi opportunities.

 is a liquid staking platform on the Aptos blockchain whose users can stake their APT tokens and earn rewards through DeFi activities, such as 

Offering a staking APR of 8.02%, Amnis is exclusive to Aptos, a 

 with superior technology known as Move, designed for scalability, security and low-cost transactions.

Through Amnis, those who hold APT (the native token for the Aptos network) can stake their tokens and receive tokens of equivalent value, which they can now use for trading and investing opportunities without unstaking their locked tokens.

Furthermore, Amnis has created new financial instruments that are attractive to institutional investors. These instruments use a yield tokenization concept that splits tokens into yield-bearing and principal tokens.

At the heart of Amnis Finance’s operations is an innovative staking structure designed to provide the involved parties with efficient and flexible investing. Amnis system is powered by smart contracts that enable APT token holders to effortlessly maximize returns without having to lock their capital or run a validator’s node.

The basic architecture of Amnis is composed of the following components:

, it issues amAPT. The user can then use these tokens to participate in the Aptos DeFi ecosystem, or stake them on Amnis to receive stAPT tokens and generate rewards.

, maintaining a 1:1 peg with APT. Users who stake their APT tokens through Amnis Finance receive an equivalent amount of amAPT, which can be utilized across various DeFi platforms without forfeiting staking rewards. This design ensures that users retain flexibility and can engage in activities such as lending, borrowing and liquidity provision, while their assets continue to generate staking yields.

 that allows investors to instantly withdraw their amAPT tokens. This convenient withdrawal feature helps them bypass the 14-day waiting period common with traditional staking.

Amnis Finance has established a reserve mechanism to ensure price stabilization in case of market surges. When necessary, the platform may buy back amAPT, and the profits are transferred to the Amnis treasury.

For users seeking to maximize their staking returns, stAPT offers an auto-compounding yield-bearing option. By depositing amAPT into the stAPT vault, users receive stAPT tokens that represent their share in the staking pool.

As staking rewards accumulate, the value of stAPT increases proportionately, eliminating the need for manual restaking and providing a seamless way to enhance staking yields over time.

Beyond its dual-token model, Amnis Finance introduces an innovative approach to yield optimization through yield tokenization. This process involves 

 yield-bearing assets (such as stAPT) into standardized yield tokens (SY), which are then divided into principal tokens (PT) and yield tokens (YT).

The PT token represents the original value of the staked asset, and can be redeemed at a 1:1 ratio upon maturity, while YT signifies the portion of interest generated over time. This segmentation allows users to tailor their investment strategies by separately managing principal and yield components, offering greater control and flexibility in crafting financial outcomes.

 for the Amnis Finance ecosystem. It’s designed to ensure a balanced ecosystem on the network. AMI token holders can propose changes and vote on key matters regarding the operation of Amnis Finance. AMI is also used as an incentive to promote the adoption of the Amnis Finance liquid staking ecosystem.

Amnis Finance has a total supply of 1 billion AMI tokens, allocated as follows:

Furthermore, Amnis Finance has a token emission schedule (spread over 48 months) that’s designed to facilitate decentralization, ensure balanced distribution and incentivize participants. The vesting schedule is shown below:

 to reward its early adopters and active contributors to its ecosystem. The details of the AMI airdrop are as follows.

30 million AMI tokens were set aside for the Amnis Retroactive Airdrop, in which 10,000 users received rewards for their participation (based on their rankings). The snapshot for those who qualify for this airdrop ran from Nov 7, 2023, to Mar 25, 2025.

Eligibility was determined based on accumulated retroactive points earned through various activities, such as minting APT to amAPT on Amnis, providing amAPT/APT liquidity on platforms like Liquidswap and PancakeSwap, and depositing stAPT with Aries Markets.

In addition to the Retroactive Airdrop, Amnis Finance has allocated 5 million AMI for holders of Draconian NFTs, with each NFT granting its holder 1,500 AMI tokens.

Furthermore, to commemorate its token generation event (TGE) and honor community support, Amnis Finance launched an Exclusive TGE NFT Airdrop campaign. This initiative allows participants to earn rare NFTs and claim a share of a 1 million AMI reward pool. The claiming period for Exclusive TGE NFT holders began on Apr 2, 2025, and will remain open for 12 months.

 on Bybit’s Spot trading platform. To celebrate this listing, Bybit is holding two Token Splash events in which a total of 

Amnis Finance is revolutionizing the Aptos ecosystem by unlocking the full potential of the APT token through liquid staking. By converting APT into amAPT, users can earn staking rewards while they maintain liquidity and access to DeFi opportunities.

With added benefits like a Retroactive Airdrop and NFT-based rewards, Amnis incentivizes active participation and long-term engagement. As the platform continues to grow, it’s empowering users to put their APT to work more efficiently, increasing both flexibility and yield.

Whether you're a DeFi enthusiast or a long-term holder, Amnis Finance is a powerful tool for maximizing your Aptos staking potential.

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Amnis Finance (AMI): Maximizing APT potential with a liquid staking protocol

U.S. stocks and cryptocurrency dropped on April 3 after President Trump’s reciprocal tariffs sparked trade tensions and a sell-off in riskier assets.

The S&P 500 fell 4.84%, its steepest drop since 2020, after Trump announced sweeping new tariffs that sparked fears of global trade retaliation. Gold fell 0.85% to $3,106.99 after hitting a record $3,167.57, driven by profit-taking and margin calls amid Trump’s tariff-induced selloff. Analysts expect central banks to sustain its rally despite potential pressure by late 2025. The Coindesk Indices, which tracks the broader crypto market, are down by 1.46%, with Bitcoin and Ether down 5.77% and 4.34% respectively in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is ZRO, up 6.9%, as BounceBit enables $BBTC and $BBUSD token bridging across Ethereum and BNB Chain via LayerZero.

LayerZero (ZRO), launched in 2021, is a cross-chain interoperability protocol enabling secure blockchain communication. It has raised $260M+ and reached a $3B valuation. Supporting 48 blockchains, its V2 upgrade enhances security and programmability. Its first DApp, Stargate Finance, enables seamless cross-chain transfers. BounceBit has 

 that its $BBTC and $BBUSD tokens are now bridgeable via LayerZero's OFT adapter standard, enabling these tokens to be transferred across multiple networks. Users can bridge these tokens to Ethereum and BNB Chain through BounceBit's portal, with official contract addresses provided for both tokens.

Check out the latest prices, charts, and data of 

U.S. stocks and cryptocurrency dropped on April 3 after President Trump’s reciprocal tariffs sparked trade tensions and a sell-off in riskier assets. Despite Trump’s pro-crypto stance, economic instability hit the sector. Analysts note crypto’s borderless nature may cushion losses, with ETFs potentially attracting retail inflows, though flows could shrink if uncertainty persists. “Bitcoin tracks macro signals like yields and dollar strength,” said Ben Kurland of DYOR. David Hernandez of 21Shares noted crypto’s resilience, with bitcoin holding key support, signaling strong demand despite ongoing policies.

Yesterday, BTC spot ETFs saw a total outflow of $165.1M, with GBTC losing $60.2M and non-GBTC funds shedding $104.9M.

 allocates 600M BABY tokens (6% of total supply) to Phase 1 Bitcoin stakers, Pioneer Pass NFT holders, and open-source contributors, with the tokens distributed at the launch of the Babylon Genesis blockchain. Categories include stake participation (30M BABY), base staking rewards (335M BABY), and a bonus for Phase 2 transition (200M BABY). NFT holders receive 300 BABY per NFT (30M total), while 5M BABY is reserved for GitHub developers. Recipients must register by March 25, 2025, and tokens will be automatically transferred to eligible users, with additional airdrops for social media supporters and other campaigns planned.

Beginner

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Trump tariffs trigger sell-off and stocks and crypto slide amid trade tensions

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Crypto

DeFi

Memes

Meme coins were created as a joke, and DOGE proved that a joke could be worth more than what you've expected. Here are the top meme coins that have taken the internet by storm.

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 is the need to evaluate the actual value and utility it brings about. As the cryptocurrency landscape becomes saturated with meme coins, which often don’t have real value and are highly speculative, it has become even more difficult for investors to determine which cryptocurrencies are worth investing in.

What are the top meme coins in which you can invest? What’s the next meme coin that’s going to make it big? In this article, we’ll look into the top ten meme coins in the cryptocurrency market now.

 with no inherent value or utility. In most cases, these 

 are themed around internet memes — images from social media platforms that can be humorous in nature.

Meme coins differ from cryptocurrencies primarily due to their lack of utility. Cryptocurrencies such as 

 (BTC) were created to tackle problems of centralization, serving as a peer-to-peer (P2P) payment method. 

 (ETH), on the other hand, is a platform that allows developers to create a series of 

 (DApps), and has flourished because of the growth of 

Meme coins tend to rise and fall sharply due to online hype, support by influencers and even orchestrated bot-driven campaigns. One recent example of a highly hyped coin is 

 (PEPE). Launched in April 2023, the PEPE coin is themed on the exceptionally popular early 2000s internet meme Pepe the Frog, created by artist Matt Furie. The coin's launch and subsequent promotion were driven by a large-scale campaign on social media, with many of the accounts touting PEPE believed to be bots.

From its launch in mid-April 2023 to late May 2024, the PEPE coin increased in price by over 8,600%. Although PEPE continues to be among the most popular meme coins, , but by September 2024, its value is half of what it was at its peak in May. However, PEPE is among the lucky meme coins that have managed to hang on to most of their initial gains. The vast majority of other meme cryptos fall to virtually nothing even after stratospheric initial gains — and these initial gains aren't at all guaranteed. For instance, it's recently been estimated that 

 fail to attain even the very modest $69,000 in market cap to qualify for a 

There could be myriad reasons why crypto enthusiasts choose meme coins. However, three primary drivers stand out:

What Contributes to Meme Coins’ Notoriety?

Meme coins gained popularity through the support of influencers in the cryptocurrency industry, celebrities and investors whose actions drive the price higher during a short period of time. In general, meme tokens or coins are often seen as jokes circulating on social media platforms, and their prices typically crash after surging (

although a very small proportion manage to thrive in the long term).

Probably the most high-profile case of meme coin promotion by a celebrity or otherwise influential figure is Elon Musk's multi-year online romance with 

 (DOGE). Since early 2019, the tech mogul and world's richest person has been posting occasional tweets supporting the oldest meme coin in existence. In April 2019, Musk 

 of 25 million followers at the time, "Dogecoin might be my fav cryptocurrency. It's pretty cool." 

However, it was his series of 2021 tweets that really boosted the price of DOGE. After Musk's late April 2021 tweet in support of the cryptocurrency, DOGE surged immensely, attaining its highest levels ever in early May. Throughout 2021 and beyond, Musk's favorable and typically facetious tweets have contributed to Dogecoin's unrelenting popularity in the meme coin world, despite this crypto's lack of meaningful utility.

Since meme coins lack fundamentals and have little to no inherent value, the primary aim of trading them is to sell short when their price surges. Nevertheless,

 some of these assets have successfully survived years of skepticism and/or expectations of an imminent crash. 

 schemes, there are still a few that might be worth your time.

Meme coins are indeed volatile and highly speculative, yet there are investors who refuse to sell them. So, which meme coins are genuinely worth your attention?

Launched in 2013, Dogecoin is the world's first top meme coin, and remains the largest meme coin by market cap today. The brainchild of two developers (Billy Markus and Jackson Palmer), DOGE was themed around a cute Shiba Inu dog, Kabosu, whose memes were gaining substantial popularity online at that time. Markus and Palmer launched the coin as a joke, underscoring the widespread belief that cryptocurrencies had no meaningful utility. Little did they (or nearly anyone else at that time) know that DOGE would go on to become one of the crypto market's most prominent assets, laying the foundation for the burgeoning meme coin market years later.

As of the time of our review on Sep 25, 2024, Dogecoin is in the top 10 among all crypto assets on the market. The confident multi-year leader among meme coins, DOGE features a market cap of $16.1 billion, ranked #9 in the cryptocurrency world. DOGE also holds slightly over one-third of the entire meme coin category's total 

 of $45.3 billion, as estimated by the CoinGecko portal. By now, its dog-themed logo is one of the most-recognized images — not only in the world of crypto, but also in the entire online universe.

As of our review date, DOGE is trading at $0.11. You can buy DOGE on Bybit as a 

For seven long years following the launch of Dogecoin, the meme coin space remained a deserted place. That all changed in 2020 with the arrival of another dog-themed meme coin, 

 (SHIB). Floated on the market in August 2020, SHIB quickly became a viable competitor to DOGE, capitalizing on both the similarity of its Shiba Inu–themed images and its active promotion on social media.

Shiba Inu has a couple of significant differences from Dogecoin. It was the first meme coin that was actively hyped online upon its launch, setting an example and precedent for other meme coin projects to do so. This was in contrast to Dogecoin, which waited for years after its launch to be discovered and hyped. In addition, unlike Dogecoin (and similar to many other meme assets), Shiba Inu wasn't launched on its own dedicated blockchain. Instead, it was created as an 

Because it was the first meme coin to be widely promoted at launch, Shiba Inu quickly established its position as a major cryptocurrency (though not quite at the level of Dogecoin). It currently has a market cap of around $8.8 billion, giving it a rank of #2 among meme coins and #16 among all cryptocurrencies. SHIB's is currently trading at $0.00001494, and can be bought on Bybit as a 

Launched in April 2023 and inspired by the Pepe the Frog meme from the 2000s, the Pepe (PEPE) coin has been the most stark example of an incredibly hyped-up meme coin. Its online promotion was driven by numerous social media posts and reposts from user accounts, many of which were believed to be bots.

Similar to many other meme coins, Pepe's founder(s) remained anonymous when the coin was launched. In August 2023, some crypto news outlets 

 the project's founder was identified as landscape photographer Zachary Testa.

PEPE was launched with a colossal supply of around 420 trillion units, with each coin worth a minuscule fraction of a cent. Despite expectations of the coin's imminent crash during its market presence, PEPE has survived for nearly 1.5 years as of the time of writing, and has amassed the third-largest market cap ($3.64 billion) among meme coins.

Currently, it’s trading at $0.000008661. Although there have been bold statements online about the coin reaching $1, such a price is unlikely to materialize. You can buy PEPE on Bybit as a 

 (WIF) is another Shib Inu–themed meme coin, this one wearing a hat. It currently holds the distinction of being the highest-capped 

 (SOL)-based meme coin. While Dogecoin was launched on its own chain, while meme coins such as SHIB and PEPE are based on Ethereum, a new wave of 

Launched in November 2023, WIF is one of the earlier coins representing this wave. While the vast majority of these Solana-based assets have failed to gain any traction in the market, WIF has been a rare success in this area: during its 10-month history to date, the coin’s value has increased by over 42,000% and holds a market cap of $2 billion. WIF's current trading price is $2.04. It can be purchased on Bybit as a 

Inspired by Floki, Elon Musk's Shiba Inu, the 

 (FLOKI) meme coin dubs itself "The People's Cryptocurrency." Launched as a classic meme coin, it has now developed functional use cases in areas such as gaming and DeFi.

FLOKI is a multichain asset with contracts on both Ethereum and 

 (BNB). In mid-2024, it was reported to have close to half a million users on BNB Chain, officially making it the platform's largest meme coin asset. FLOKI's current market cap stands at $1.39 billion, and it’s trading at $0.0001436. You can buy FLOKI as a USDT (

 (BONK), yet another dog-themed meme coin, was launched in December 2022 and is among the first Solana-based meme assets. It was one of the earliest contributors to popularize Solana as a meme coin heaven. Bonk has grown rapidly, establishing its presence on multiple other blockchains, among them Ethereum, BNB Chain, 

Just like some other popular meme assets, BONK was launched with a massive per-unit supply, in BONK’s case 93.5 trillion. Cryptocurrencies with such overwhelming supply figures typically have minuscule per-unit prices. The coin's price is currently $0.00001909, and although some of its most enthusiastic promoters and supporters believe that BONK could reach $1, it's unlikely to happen unless some form of enormous supply 

 is carried out. The coin's market cap currently stands at $1.3 billion.

BONK can be purchased on Bybit as a USDT (

) Spot pair, or as a USDT Perpetual contract (

 (POPCAT), another Solana-based meme coin, was inspired by the internet meme cat named Oatmeal. POPCAT claims the title of highest-capped meme coin themed after a feline. In the sea of mostly Shiba Inu dogs, this is a refreshing change.

Introduced in December 2023, Popcat is among the most successful meme coins, having appreciated by 8,650% compared to its launch price. Popcat currently sits at a market cap of $1 billion, and is trading at $1.05. You can buy POPCAT on Bybit as a Spot pair (

 (BRETT) is a meme coin built around Brett, one of the key characters from artist Matt Furie’s popular 

 series. The series features four main characters, including Pepe the Frog and Brett. Brett and Pepe are actually great friends in the series' storyline, and the BRETT coin's February 2024 launch was undoubtedly inspired by the success of the PEPE meme coin.

, a leading Layer 2 network linked to Ethereum. The meme coin holds the distinction of holding the platform's highest market cap at $875 million, and is currently trading at $0.088. It can be bought on Bybit as a USDT (

Another cat-themed representative of Solana, 

 (MEW) was created to challenge the dominance of dog-themed meme coins in the space, and seems to have rapidly edged closer to its goal. Launched in March 2024, MEW pumped by 385% to hit a price of $0.0097 within three days, during which its market cap reached approximately $848 million. While this figure has since receded to $560 million, MEW remains among the top ten largest meme coins in market cap.

MEW currently trades at $0.006275 and can be bought on Bybit as a USDT (

 (NEIRO) is the first Neiro-themed meme coin launched on Ethereum. Like many other Neiro-themed meme coins, NEIRO was created in a bid to replicate the popularity of Dogecoin, as the owner of Kabosu has recently adopted a ten-year-old Shiba Inu, Neiro, in late July 2024.

The ERC-20 NEIRO token was launched in early August 2024 at a low of $0.000002438, and traded at that level for about a month. But from September 16 onward, it experienced a price rally that led to an ATH of $0.001327 on Sep 24, 2024, recording an extraordinary increase of over 54,000%. Its current price is $0.001183 with a market cap of $497 million, surpassing many older, more established meme coins, such as 

Most meme coins are highly speculative, and have no intrinsic value. Therefore, plenty of risks are associated with this field of cryptocurrency, particularly for investors. 

In addition, meme coins are highly volatile, and pump-and-dump schemes are a common occurrence. Therefore, investing in meme coins might be more exhausting than investing in traditional financial markets, as no regulation is implemented. However, investors can take advantage of the wild price movement to have fun and ride the wave following the social media buzz. 

If you intend to invest in meme coins, you’ll need to monitor their price movement closely by taking advantage of the surge in demand. As always, don’t invest more than you can afford to lose. Investors should understand how market corrections work — instead of jumping on the bandwagon when cryptocurrencies are at their all-time highs. Trend reversals take place all the time, and they can occur in a split second. 

While most of the established financial markets have recovered post-pandemic, meme coins beg to differ. If your risk tolerance is low, an investment in meme coins might be the last thing you need in your portfolio.

Compared to established cryptocurrencies, meme coins are relatively new in the crypto market. Dogecoin and its peers have strong growth potential. Savvier investors can take advantage of these crypto coins, riding the price momentum from bottom to top.

Despite their potential, meme coins are still a risky investment, due to their focus on meta humor and community attention, rather than financial performance. 

Diversifying your portfolio is a way to reduce market risk in a given sector. As with other investments, if you invest in meme coins, make sure to take their risks into account.

10 Top Meme Coins to Watch in 2024

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards