Cryptocurrency trading platform FTX has started trading for a range of Wall Street Bets markets.
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Wall Street Bets is the name of a popular Reddit club, which plays a role in price changes of certain assets.The platform announced the news on Thursday through a blog post. The included stocks are those that a Reddit group targeted recently. Here are the names: Dogecoin, Nokia, BlackBerry, AMC Entertainment, GameStop, iShares Silver Trust – and FTX’s native token FTT.
The stocks and DOGE hold 99% of the index, while FTT just 1%.FTX disclosed the news in a period when there are active discussions about stocks related to Wall Street Bets. Last week the stocks made huge progress as an answer to the social media trading bustle. It all began when larger entities started to call users to buy names, such as GameStop Corp. As a response to this move against short traders, over four million users started discussions on the Reddit forum. Soon, the stocks surged. The forum SatoshiStreetBets talked about making Dogecoin the equivalent of GameStop. Afterward, the cryptocurrency's price set new records.