3X Short Altcoin Index Token price is $0.00001268
The price of 3X Short Altcoin Index Token (ALTBEAR) has increased by +0.00% in the last 24 hours, making it $ 0.00001268 per token. It is important to note that, due to the nature of the token, its price can experience high volatility in response to the movements of the underlying Altcoin Index.
The 3X Short Altcoin Index Token (ALTBEAR) is a financial derivative known as a leveraged token that is designed to provide traders with the opportunity to gain exposure to the opposite movement of the Altcoin Index, multiplied by three (-3x). If the Altcoin Index decreases in value, the ALTBEAR token is designed to increase in value, and vice versa. This token operates on the Ethereum blockchain, adhering to the ERC20 standard, making it compatible with a wide array of wallets and trading platforms.
The ALTBEAR token achieves its goal by using derivatives, like futures contracts, to short the Altcoin Index. Since it aims to provide -3 times the inverse daily return, if the index falls by 1% in a day, ALTBEAR’s value is intended to rise by approximately 3%. But it's imperative to understand that this mechanism is reset daily, which means the token is best used as a short-term trading instrument rather than a long-term investment.
ALTBEAR is unique because it offers traders an easy way to bet against the performance of a basket of altcoins with leveraged exposure. It saves traders time and potential transaction fees from having to short each individual altcoin. The leveraged aspect enhances the potential gains (and losses) without the complexity of managing a leveraged position daily, as this is handled by the token's mechanisms.
3X Short Altcoin Index Token is typically offered by leverage token providers or platforms that specialize in complex trading instruments. The exact team behind ALTBEAR is not stated in the information provided, but such tokens are usually engineered by an experienced group of financial experts and developers. They manage the rebalancing of the token's portfolio to maintain its leveraged position daily.
An Altcoin Index is a metric that tracks the performance of a group of alternative cryptocurrencies (altcoins) to Bitcoin. It usually reflects the collective price movements of multiple altcoins and is used as a benchmark to understand the overall market performance of cryptocurrencies other than Bitcoin.
The daily maintenance of the ALTBEAR token's leveraged position is done through a process called rebalancing. The managing party executes the necessary trades at the end of each trading day to ensure that the token continues to provide the aimed -3 times inverse leverage. It's a complex process that involves managing an assortment of financial derivatives and lending agreements.
Trading 3X Short Altcoin Index Token (ALTBEAR) carries a high level of risk. The leverage means that both gains and losses are magnified, and the daily rebalancing can lead to value decay over time, particularly in volatile or trending markets. It's an instrument designed for experienced traders who understand the implications of leveraged trading positions.
The current market cap of 3X Short Altcoin Index Token (ALTBEAR) is $ , which places it at the market cap rank of #1. The 24-hour trading volume is 55.4K. Market cap and volume can fluctuate significantly, especially with leveraged tokens, due to their reactive nature to underlying market movements.
3X Short Altcoin Index Token (ALTBEAR) can be purchased on various cryptocurrency exchanges that offer leveraged tokens. As of the time of writing, you can buy ALTBEAR on BitMax. Always ensure that you are using a reputable platform and that you understand the risks involved in trading such instruments.
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