3X Long OKB Token price is $1.30
As of the latest data, the price of 3X Long OKB Token (OKBBULL) has increased by +0.00% in the past 24 hours, with the current price being $ 1.30.
The 3X Long OKB Token (OKBBULL) is a leveraged token, specifically an ERC20 token that aims to provide cryptocurrency traders with amplified exposure to the daily returns of OKB. It is designed to achieve returns that are three times the daily performance of OKB. If OKB's daily return is 1%, then OKBBULL should ideally return 3% the same day, before fees and expenses.
The way the 3X Long OKB Token (OKBBULL) works is through the use of derivatives, like futures and swaps, to amplify the daily returns of the OKB coin. These financial instruments are used to multiply the effects of OKB’s daily performance. Since it tracks the daily return, the compounding of returns may result in a divergence from the targeted 3x exposure over periods longer than a day.
The 3X Long OKB Token is issued by FTX, a cryptocurrency exchange known for a wide array of trading products, including leveraged tokens. Investors interested in purchasing OKBBULL can find it on the FTX exchange along with other potential platforms that list ERC20 tokens.
Trading leveraged tokens like OKBBULL carries substantial risk. Due to the triple leverage, the value of the token can experience high volatility and the potential for a significant loss is much higher compared to a non-leveraged asset. This type of investment may be more suitable for experienced traders who have a higher risk tolerance and a clear understanding of how leveraged tokens work.
The performance of OKBBULL is calculated by using the daily price movements of the OKB cryptocurrency. The price of OKBBULL moves based on the tripled daily return of OKB, adjusted by the fees and costs associated with maintaining the leveraged position. This relationship is constantly recalculated to correspond with the performance of OKB.
As a leveraged token, the market cap of 3X Long OKB Token (OKBBULL) can be quite volatile. The current market cap is $ , ranking it at #1 in market capitalization among digital assets.
The circulating supply of 3X Long OKB Token (OKBBULL) is , and its total supply can potentially change due to the token's rebalancing mechanism which occurs in response to market movements.
Before trading OKBBULL, one should consider the inherent risks associated with leveraged tokens. It's crucial to understand the impact of market volatility, the rebalancing mechanism, and the possibility of liquidation events. It's also important to research the underlying asset, OKB, since OKBBULL's performance is directly tied to OKB’s daily returns.
The primary marketplace for buying 3X Long OKB Token (OKBBULL) is on the FTX platform. However, as an ERC20 token, it may also be available on other exchanges that support the trading of ERC20 tokens. Always ensure you are trading on reputable and secure platforms.
As with any digital asset, keeping your 3X Long OKB Token (OKBBULL) secure is vital. To protect your tokens, consider using hardware wallets which store the user's private keys offline, making them resistant to online hacking attempts. Additionally, be sure to use strong, unique passwords for exchanges and enable two-factor authentication whenever possible for added security.
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