The S&P 500 index, also known as the SPX, is widely regarded as the barometer of the overall U.S. stock market. The index measures the performance of 500 large-cap publicly traded companies in the U.S., including the "Magnificent 7″ cohort.

Few people might be aware, though, that there even exists a cryptocurrency called SPX, which, interestingly, has netted mammoth returns to its holders over the last year.

What happened: SPX6900 SPX/USD, a parody coin with a market capitalization of over $400 million, has surged an eye-popping 17474.22% in the last year. 

In fact, the Solana SOL/USD-based token finished 2024 as the year's second-biggest gainer, dwarfing the returns from market heavyweights like Bitcoin BTC/USD and Dogecoin DOGE/USD.

The token’s fan page jokingly suggests that it aims to challenge the dominance of the S&P 500 index by establishing a new stock market index, SPX6900.

"This movement is more than numbers; it's a redefinition of dominance, relevance, and inclusion in global markets. As the financial world takes notice, the idea of the SPX6900 sends a clear message: it’s time to think bigger," the token's synopsis read.

See Also: Bitcoin Reeling From Trump’s ‘Liberation Day’ Shock But These Gold-Backed Coins Are Killing It This Year

The website’s disclaimer, however, clarified that the meme currency was made just for entertainment and had nothing to do with stocks or securities.

And, despite its stratospheric rise last year, SPX, like the rest of the cryptocurrency industry, has faltered in 2025. Year-to-date, the coin has plunged nearly 50% and is currently trading down 75% from its all-time highs.

Markets have been pounded by President Donald Trump's sweeping tariff policies in 2025. The S&P 500 has lost over 13% year-to-date, with Friday marking its worst decline since March 2020. It closed

Price Action:  At the time of writing, SPX memecoin was exchanging hands at $0.4387, down 12.39% in the last 24 hours, according to data from Benzinga Pro. The S&P 500 closed Friday down 5.97% to 5,074.08.

Photo by Igor Faun on Shutterstock

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