3X Long Cardano Token to USD Price Chart

Has the price of 3X Long Cardano Token (ADABULL) changed today?

The price of 3X Long Cardano Token (ADABULL) has increased over the last 24 hours, currently standing at $ 0.02257554. It's important to note that this token can experience significant price movements due to its leverage.

What Is 3X Long Cardano Token (ADABULL)?

3X Long Cardano Token (ADABULL) is a leveraged token offered by the FTX exchange that is designed to provide traders with a way to gain leveraged exposure to Cardano (ADA). If you're unfamiliar with leveraged tokens, they are special assets that amplify the daily price movements of the underlying cryptocurrency. In the case of ADABULL, the token seeks to deliver 3 times the daily return of Cardano.

Who Created the 3X Long Cardano Token?

The 3X Long Cardano Token (ADABULL) was created by FTX, a cryptocurrency derivatives exchange. The FTX platform is known for offering a wide variety of trading products, including leveraged tokens like ADABULL.

How Does 3X Long Cardano Token Work?

As an ERC20 token, ADABULL operates on the Ethereum blockchain. It is designed to magnify the daily performance of Cardano by 3 times. This means that if Cardano's price increases by 1% over a day, theoretically, ADABULL should increase by 3%. However, due to the complexity of how leveraged tokens rebalance, returns can be unpredictable over longer periods.

What Makes 3X Long Cardano Token Unique?

3X Long Cardano Token is unique because it allows traders to amplify their potential gains (or losses) without having to use traditional margin trading. This can be an attractive proposition for those looking for greater exposure to Cardano's price movements. However, it's also important to understand the increased risk that comes with using leveraged products.

How Is 3X Long Cardano Token (ADABULL) Connected to Cardano?

ADABULL is directly connected to the performance of Cardano, as its value is predicated on three times the daily return of ADA, Cardano's native cryptocurrency. Cardano's price movements are directly mirrored and amplified in ADABULL's price movements.

How Is the 3X Long Cardano Token’s Performance Calculated?

The performance of ADABULL is calculated by algorithms that automatically rebalance the token's exposure to maintain the target leverage ratio of 3x. This rebalancing generally occurs daily to ensure that the token's performance corresponds closely to the tripled daily return of Cardano.

How Much 3X Long Cardano Token (ADABULL) Is in Circulation?

The circulating supply of 3X Long Cardano Token (ADABULL) can fluctuate significantly as it is created and redeemed to maintain its leverage levels. The FTX exchange generally oversees the supply to ensure it meets the ongoing demands and rebalancing processes.

Where Can You Buy 3X Long Cardano Token (ADABULL)?

3X Long Cardano Token (ADABULL) can be purchased on the FTX exchange and potentially other platforms that support ERC20 tokens and offer leveraged tokens. It is crucial that interested buyers check the listing status on various exchanges as the availability can change.

What Are the Risks of Trading 3X Long Cardano Token (ADABULL)?

Trading leveraged tokens like ADABULL carries significant risk. Due to the leverage, the price movements are more volatile, which means while there is potential for higher returns, there's also an increased risk of substantial losses, especially during turbulent market conditions. It is recommended for traders to thoroughly understand leverage and risk management before trading such instruments.

View similar coins

3X Long Cardano Token Links