3X Short Bitcoin Token price is $0.00000229
The price of 3X Short Bitcoin Token (BEAR) has increased today. As a leveraged token, its price is highly volatile and sensitive to the movements of Bitcoin, reflecting thrice the inverse of Bitcoin's daily performance. At the moment, BEAR is trading at $ 0.00000229, with a 24-hour trading volume of 11.5.
3X Short Bitcoin Token (BEAR) is a unique financial instrument known as a leveraged token. It is specifically designed to track -3 times the daily return of Bitcoin. In other words, if Bitcoin's value goes down by 1% in a day, the 3X Short Bitcoin Token ideally aims to go up by 3% and vice versa. This token operates on the Ethereum blockchain, adhering to the ERC20 standard.
While the specific individuals behind the 3X Short Bitcoin Token are not mentioned, it is part of the larger ecosystem of leveraged tokens offered by various trading platforms. BEAR is associated with the FTX exchange, a well-known cryptocurrency exchange known for creating and listing leveraged tokens like BEAR.
The 3X Short Bitcoin Token achieves its goal by using derivatives, like futures contracts, to attain the desired exposure to Bitcoin's price movements. The mechanism involves daily rebalancing to ensure that the token maintains a consistent leverage ratio close to -3. This means that every day, the token adjusts its holdings to continue providing inverse exposure that is threefold the daily return of Bitcoin.
Trading leveraged tokens like BEAR carries significant risks due to their complex nature and the extreme volatility they embody. The value of the token can move very quickly and unpredictably, especially since it is designed to provide amplified returns that are triple the inverse of Bitcoin's daily performance. This heightened volatility makes it a very risky investment, particularly for inexperienced traders.
Daily rebasing is a crucial aspect of leveraged tokens like BEAR. This is the process by which the token adjusts its leverage back to -3 times the return of Bitcoin at the end of each trading day. This rebalancing ensures that the token does not deviate from its intended exposure, but it can also lead to compounding losses or gains, depending on the market's movements.
Unlike traditional investments, the 3X Short Bitcoin Token is a short-term trading tool that offers inverse leverage to Bitcoin's daily movements. It is inherently different from holding cryptocurrencies or other assets because it is not meant for long-term investment but rather for short-term trading strategies that capitalize on Bitcoin's volatility.
The 3X Short Bitcoin Token (BEAR) can be purchased on the FTX exchange, which is its primary listing platform. Being an ERC20 token, it may also be available on other exchanges and platforms that support such tokens, but investors are advised to check the latest listings and confirm availability.
For leveraged tokens like BEAR, the circulating supply may vary frequently due to the continuous process of minting and redemption based on demand. The current circulating supply of 3X Short Bitcoin Token (BEAR) is , which may change swiftly as traders enter and exit positions.
Keeping your 3X Short Bitcoin Token safe involves the same practices as safeguarding any ERC20 token. It is recommended to store them in a secure wallet, preferably a hardware wallet if you are not actively trading. Always ensure you are transacting through reputable services and protect your private keys with utmost care.
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