3X Long BiLira Token price is $2,770.00
The current price of 3X Long BiLira Token (TRYBBULL) is $ 2,770.00. In the past 24 hours, its value has increased by +0.00%.
3X Long BiLira Token (TRYBBULL) is a leveraged token that exists on the Ethereum blockchain as an ERC20 token. It is designed to provide investors with a way to gain leveraged exposure to the daily return of BiLira, a stablecoin pegged to the Turkish Lira. When investing in TRYBBULL, you are effectively seeking a return that corresponds to 3 times the daily return of the BiLira. This means that if the BiLira increases in value by 1% over a day, TRYBBULL aims to increase by 3%, before fees and other costs.
While specific individuals behind the creation of 3X Long BiLira Token (TRYBBULL) are not detailed, the token is typically created and managed by the issuers operating on the FTX platform, which is a known cryptocurrency exchange offering various trading products, including leveraged tokens like TRYBBULL.
3X Long BiLira Token works by providing investors with leveraged exposure to the BiLira. Leveraged tokens like TRYBBULL manage their exposure on a daily basis to maintain the desired leverage ratio, which in this case is 3:1. This means that each day, the movement of the BiLira is effectively amplified threefold for holders of TRYBBULL. The token's daily rebalancing ensures that the leverage is maintained over time and prevents the compounding of losses that can occur in volatile markets.
TRYBBULL is unique because it provides a significant amount of leverage (3x) without requiring investors to deal with the complexities of managing a leveraged position in the traditional ways, such as using derivative contracts or trading on margin. Additionally, by being an ERC20 token, it can be easily stored, transferred, and traded like any other cryptocurrency token that operates on the Ethereum network.
The performance of TRYBBULL is calculated based on the daily return of the BiLira. Every day, the leveraged exposure is adjusted to ensure that TRYBBULL continues to track 3 times the daily percentage movement of BiLira's value. Because it aims to replicate daily returns, its performance can differ significantly from the underlying asset's performance when considered over a period longer than one day due to the effects of compounding.
TRYBBULL is different from traditional leveraged financial products like futures or options because it is packaged as an ERC20 token. This allows it to be included in digital wallets and traded on cryptocurrency exchanges, just like other digital assets. It is also free from some of the requirements of traditional leveraged products, such as margin calls.
Investing in leveraged tokens like TRYBBULL involves higher risk compared to non-leveraged investments. Since the token provides 3x exposure to the daily movements of the BiLira, both gains and losses are magnified. This can lead to greater volatility and potential losses, especially in unstable or unpredictable market conditions. Investors should have a clear understanding of leverage and the associated risks before investing in TRYBBULL.
3X Long BiLira Token (TRYBBULL) can be purchased on , and any other exchanges that list the token. Since it's an ERC20 token, all you need is an Ethereum-compatible wallet and an account on one of these exchanges to trade TRYBBULL.
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