3X Short Huobi Token Token price is $0.00017470
The price of 3X Short Huobi Token Token (HTBEAR) has increased by +0.00% in the past 24 hours and is currently valued at $ 0.00017470. It's important to monitor the price regularly as leveraged tokens like HTBEAR can be highly volatile.
3X Short Huobi Token Token (HTBEAR) is a financial derivative known as a leveraged token that is designed to provide inverse exposure to the daily performance of Huobi Token (HT). Specifically, HTBEAR aims to deliver -3 times the daily return of Huobi Token. This means that if the Huobi Token increases by 1% over a day, HTBEAR should decrease by 3%, and vice versa. HTBEAR operates as an ERC20 token on the Ethereum blockchain, which allows for seamless integration into the existing ecosystem of Ethereum wallets, exchanges, and other services.
3X Short Huobi Token Token (HTBEAR) is typically created by a financial platform specializing in cryptocurrency derivatives. It was not created by the team behind Huobi Token but is provided as a market instrument by the same exchanges that allow trading in numerous other cryptocurrency leveraged tokens.
Leveraged tokens like HTBEAR work by utilizing a combination of futures contracts and debt to amplify the exposure to the underlying asset, in this case, the Huobi Token. When a trader buys HTBEAR, they are essentially entering a short position on Huobi Token with triple leverage. However, unlike traditional leverage through a margin account, HTBEAR manages the rebalancing automatically on a daily basis to maintain its target leverage and minimize the risk of liquidation.
HTBEAR is unique because it provides a way for traders to speculate on the price decline of Huobi Token with amplified effects without employing traditional margin trading. This token reduces the need for manually setting up and monitoring leveraged positions, making it easier for some traders to express short-term bearish views on Huobi Token though it comes with its own set of risks due to its leverage and rebalancing mechanics.
The circulating supply of 3X Short Huobi Token Token (HTBEAR) can vary widely, as the supply is not fixed and adjusts based on the demand and the rebalancing requirements needed to maintain the leverage level. The current circulating supply is HTBEAR tokens.
3X Short Huobi Token Token (HTBEAR) can be purchased and traded on a few cryptocurrency exchanges that specialize in leveraged tokens, including FTX, which is noted on the official website. As always, prospective buyers should ensure that they are using a reputable exchange and should consider the risks associated with trading leveraged tokens.
To keep your HTBEAR tokens safe, it is essential to store them in a secure wallet. Preferably, use a hardware wallet that stores the private key offline, or a reputable software wallet with strong security features. Always keep your private keys confidential, enable two-factor authentication when possible, and be cautious about phishing attempts and scam websites. Remember that leveraged tokens such as HTBEAR are generally intended for short-term holding due to their daily rebalancing and are not recommended for long-term investments.
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