In a remarkable achievement, Wall Street Memes ($WSM) has emerged as the fourth most traded meme coin in global crypto markets, just six days after its first centralized exchange listing. The surge in trading volume for $WSM has been evident since Tuesday, with nearly $60 million worth of the token traded since its listing on OKX on September 26.
This trading volume compares favorably with that of other well-known meme coins. During the same period, Pepe saw $79 million in trades, Shiba Inu $103 million, and Dogecoin $222 million. Over the weekend, $WSM surpassed both Pepe and Shiba Inu in 24-hour volume traded.
The impressive performance of $WSM has sparked rumors about potential upcoming listings on other major exchanges such as Binance or Kucoin. Currently, the token can be traded on OKX, HTX, MEXC, LBank, CoinEx, BitMart, and BingX centralized exchanges.
The increasing trading volume and interest in $WSM come at an opportune time as the fourth quarter traditionally brings good fortune for cryptocurrencies. The ongoing ‘Uptober’ and altcoin season have further amplified the attention towards $WSM.
Adding to its appeal is a verifiable connection with Elon Musk, the world’s richest man. Musk has interacted with the WallStMemes’ X (formerly Twitter) account multiple times, which has likely attracted buyers to $WSM.
In another significant development for the meme coin sector, the MEXC exchange has initiated futures trading for the $WSM/USDT token pair. This is a noteworthy breakthrough as crypto futures markets are considerably larger than spot markets. This move by MEXC may encourage other trading venues to follow suit to attract trading volume around popular trending tokens like $WSM.
This news comes on the heels of the launch of two new Ether-based futures exchange traded funds (ETFs): Bitwise Ethereum Strategy ETF (AETH) and the Bitwise Bitcoin and Ether Equal Weight (BTOP).
