Categories: MarketsMenafn

Institutions Traded $180B in Memecoins: ByBit

Retailers and institutional investors account for a large percentage of memecoin holders and traders, according to a report from ByBit.

The report, titled “Beyond the Hype,” sheds light on how investors had jumped on the memecoin bandwagon, especially at the end of March, when the trend peaked with cryptocurrencies such as dogwifhat (WIF), BOOK OF MEME (BOME), Pepe (PEPE) and others.

Precisely, the amount of capital that institutions allocated to memecoins into their spot holdings from February to March saw a dramatic 226% increase to $204M. It didn’t stop there, however. The report notes that the total memecoin holdings surged to $293.7M in April.

Memecoins, Not Stablecoins

The report notes that by the first quarter of 2024, institutions had adopted a more risk-on approach by decreasing their stablecoin holdings, while exposure to memecoins and assets like Bitcoin (BTC) and Ethereum (ETH) increased considerably.

“Looking at flows across assets, we see a small decline in institutional holdings of stablecoins in March and April. Stablecoin holdings dropped from $1.7B in February to $1.4B in April, while exposure to memecoins, BTC, and ETH increased, indicating where the flows went.”

Institutions traded over $186.6 billion worth of memecoin perpetual contracts in Q1 2024. However, by May, institutions had exited some of their BTC, ETH, and memecoin holdings and increased their stablecoin supply, indicating the beginning of the profit-taking stages.

Retailers have shown adaptability as well. The report notes that retail memecoin holdings soared nearly 500% from February to April 2024, peaking at $567M before dropping back to $371M. 

Among the top memecoins for retailers and institutions is GME, the Solana-based token inspired by GameStop’s real-life shares. On that topic, Keith Gill, known as Roaring Kitty, is being investigated over market manipulation concerns.

Another popular memecoin is Brett (BRETT), on the Layer-2 blockchain Base and recently surpassed $1.1B in market capitalization.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Recent Posts

Franklin Morgan & Associates Successfully Represented in DIAC Arbitration for $113M Award

New York, NY, 1st August 2025, Franklin Morgan & Associates is proud to announce that…

2 hours ago

Mint Miner Launches XRP Cloud Mining Contracts, Opening a Low-Entry, High-Yield Model

New York, USA, 1st August 2025, ZEX PR WIRE, Mint Miner, the world’s leading intelligent cloud mining…

2 hours ago

Moonshot MAGAX Presale Goes Live — Built for Virality, Fueled by Community

California, USA, August 1, 2025, After months of building behind the scenes, Moonshot MAGAX  is…

2 hours ago

Find Mining Rises to the Trend: A Mass Mining Revolution in the $4 Trillion Market

Combining cloud computing with artificial intelligence, Find Mining delivers a secure, efficient, and transparent way…

2 hours ago

XRP has surpassed the $3.60 mark, and Ripplecoin mining allows holders to easily cash in their daily gains.

XRP Enters a Key Breakout Window; Ripplecoin Mining Helps You Start a Crypto Cash Flow…

2 hours ago

Blockchain is booming again, and ETH and XRP holders are using InvroMining to increase their income

London, UK, 31st July 2025, ZEX PR WIRE, As a global leader in blockchain financial…

1 day ago