CoinMarketCap lists ‘joke’ WallStreetBets token above Bitcoin

As GameStop GME stocks surged from $19.79 to a high of $380, in the past week, Hedge fund Melvin Capital and Citron Research lost billions due to the WSB short squeeze. However, this week has been about the Reddit community of day traders, WallStreetBets or WSB that undoubtedly, for better or for worse, made its mark on financial markets.

Nevertheless, some crypto companies have decided to pay ‘tribute’ to the WallStreetBets community. Recently, Coinmarketcap decided to l

The price of the “joke” token is $483, and its market cap is $24.8 billion. There are apparently 51 million WSB tokens in supply, with a daily trading volume of over $100 million.

In response to the WSB GameStop short, brokers such as popular trading app Robinhood

Soon enough, several crypto enthusiasts took to Twitter to call out the trading app’s decision. Dave Portnoy, President of Barstool Sports went as far as saying that he would “burn Robinhood to the ground if they shut down free market trading.”

At the same time, US politician Alexandria Ocasio-Cortez

We now need to know more about Robinhood’s decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit.

Others had another perspective about the recent events. Ethhub co-founder Eric Conner said DeFi would gain more popularity: 

Many believed the move would only work in favor of Bitcoin. Paolo Ardoino, CTO of Bitfinex said in a release shared with AMBCrypto that the asset rising on a “day of such anger against financial elites” represented “hope for a fairer and more equitable financial system.”

Meanwhile, FTX derivatives exchange launched futures trading for “a basket of Wall Street Bets markets.” The index quarterly futures contract includes stocks being targeted by WSB members. Namely, Nokia, GameStop, as well as dogecoin among others.