3X Short Cardano Token price is $0.00000000
As of the latest data, 3X Short Cardano Token (ADABEAR) has increased in price within the last 24 hours, currently trading at $ 0.00000000. Keep in mind that the value of leveraged tokens like ADABEAR can be quite volatile, reflecting triple the daily movement in the opposite direction of the underlying asset, which in this case is Cardano (ADA).
3X Short Cardano Token (ADABEAR) is a unique financial instrument known as a leveraged token. It's designed to provide traders with leveraged exposure to Cardano (ADA), meaning that it aims to deliver -3 times (or 300% of the opposite) of the daily performance of ADA. As an ERC20 token, it operates on the Ethereum blockchain, ensuring compatibility with a wide range of wallets and exchanges that support this standard.
3X Short Cardano Token (ADABEAR) is offered through the FTX trading platform, which specializes in various types of cryptocurrency derivatives, including leveraged tokens. FTX is known for creating these tokens to give traders leveraged exposure without the need for margin trading.
ADABEAR works by mirroring the inverse of Cardano's daily price movements with threefold leverage. If Cardano's price falls by 1% on a given day, ADABEAR should theoretically increase by 3%. Conversely, if Cardano's price increases, ADABEAR will decrease in value. This provides a tool for speculation or hedging based on the anticipated price movements of Cardano without directly shorting the asset.
What sets ADABEAR apart from traditional trading methods is that it offers leveraged exposure without the need to directly trade on margin. This eliminates some complexities and risks associated with margin trading, such as liquidation risk if a margin call occurs. However, leveraged tokens like ADABEAR do carry their own set of risks and are best used by experienced traders who understand the implications of leveraged trading.
The performance of ADABEAR is tracked by calculating the inverse of Cardano's movement at a leverage of three times on a daily basis. This calculation is reset daily, meaning it aims to achieve -3 times the return of Cardano's movement each day rather than over an extended period. This resetting mechanism helps manage compounding effects but also means that the token's performance over more extended periods may differ significantly from -3 times Cardano's performance during the same time frame.
The current market capitalization of 3X Short Cardano Token (ADABEAR) is $ , and it ranks as #1 in the list of all cryptocurrencies by market cap.
As of now, there is a circulating supply of ADABEAR tokens. Unlike Cardano or other cryptocurrencies with a fixed supply cap, the supply of leveraged tokens like ADABEAR can change frequently due to the token's rebalancing mechanics and the demand for these types of financial instruments.
3X Short Cardano Token (ADABEAR) can be bought and sold on the FTX platform and potentially other exchanges that list leveraged tokens. When purchasing ADABEAR, it's important to be aware of its leveraged nature and the inherent risks involved in trading such assets.
To store 3X Short Cardano Token safely, you need to use an ERC20-compatible wallet. This can be a hardware wallet, which is generally safer as it stores your tokens offline, or a software wallet with robust security features. Always ensure that your wallet is secured with strong passwords and, if available, two-factor authentication.
Ethereum
DogeHouse Capital
Pakkun Inu
Jobscoin
nYFI
UnderMineGold
Kollector
Aave RAI
Lyfe Land
Ethereum Classic
Bitcoin Cash
LEO Token
Theta Network
Olympus
Quant
Loopring
TRON
The Retirement Token
Worms Among Us
Stick on Kaspa
LOAF
Academic Labs
CryptoAutos
MIST
Mr Mayonnaise the Cat
Live Prices, Widgets, Alerts, Portfolio, Apple Watch app
