Meme Coin '我踏马来了' Surges Before Market Cap Decline

Following a $99,900 investment, the meme coin ‘我踏马来了’ surged and later earned the trader $42,300. Binance added the coin's USDT perpetual contract with up to 20x leverage on Jan. 21.

USDT

Summary

On January 22, GMGN data reported a trader profiting $42,300 from a $99,900 investment in meme coin ‘我踏马来了’ after its market cap peaked above $17 million. The coin had briefly surged in value, leading to significant gains before Binance listed its USDT perpetual contract with up to 20x leverage on January 21.

Terms & Concepts
  • Meme Coin: A cryptocurrency inspired by internet memes or trends, often experiencing extreme volatility and speculative trading.
  • Market Cap: The total value of a cryptocurrency, calculated by multiplying its price by the circulating supply.
  • USDT Perpetual Contract: A type of cryptocurrency derivative that allows traders to speculate on price movements without expiration, with USDT (Tether) as the base asset.