Jun 6, 2024
Institutional allocations to meme coins have surged over 300% this year, reaching a peak of almost $300 million in April, according to crypto exchange Bybit.
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Video transcriptThe chart of the day is presented by crypto.com, the leading crypto platform trusted by over 80 million users worldwide. Let's take a look at the chart of the day. Institutional allocations to meme coins have surged over 300% this year reaching a peak of almost $300 million in April. According to crypto exchange, Bibi Dogecoin and Shiba Inu were favored among institutional investors for their liquidity. And Solana meme token B emerged as one of the most popular of the new meme coins attracting over $75 million in institutional bets. Holdings were tracked exclusively on by it and do not include those on other exchanges. And that's it for today's chart of the day. I'm Helene Braun in for Jensen Asi and we'll see you next time.
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