3X Short EOS Token to USD Price Chart

Has the 3X Short EOS Token (EOSBEAR) price changed today?

As of the latest data, the price of 3X Short EOS Token (EOSBEAR) has increased by +48.02% in the past 24 hours.

What Is the 3X Short EOS Token (EOSBEAR)?

3X Short EOS Token (EOSBEAR) is a unique financial instrument known as a leveraged token. Specifically, EOSBEAR is an ERC20 token designed to provide traders with leveraged exposure to EOS, one of the existing cryptocurrencies, but inversely. This means that EOSBEAR aims to achieve returns that are -3 times the daily return of EOS. When the price of EOS declines, EOSBEAR increases in value, and vice versa.

Who created the 3X Short EOS Token?

The 3X Short EOS Token (EOSBEAR) was created by the team at FTX, a cryptocurrency exchange known for offering innovative trading products. FTX specializes in derivatives and leveraged tokens and provides traders with the means to gain amplified exposure to various cryptocurrency markets.

How does the 3X Short EOS Token work?

EOSBEAR operates by utilizing derivatives like futures contracts to establish inverse leverage. If EOS’s price goes down by 1% on a given day, the EOSBEAR token is designed to go up by 3% and the opposite happens if EOS’s price increases. However, because it tracks the daily price movement, the compounding of daily returns can lead to divergence from the -3x target over longer periods. Traders often use leveraged tokens like EOSBEAR for short-term bets on market movements.

What Makes the 3X Short EOS Token Unique?

The 3X Short EOS Token stands out because it allows for inverse leverage, which is not commonly found in traditional financial instruments. It's particularly unique in the cryptocurrency space as it gives traders the ability to short EOS with amplified leverage without the need to manage a leveraged position or margin.

How Is the 3X Short EOS Token's Performance Linked to EOS?

The performance of EOSBEAR is directly inverse to the daily performance of EOS due to its leveraged structure. For example, if EOS decreases in value by a certain percentage over the course of a day, EOSBEAR is designed to increase by three times that percentage, before fees and other costs.

How to Use the 3X Short EOS Token?

Traders can use EOSBEAR to hedge against their EOS holdings or to bet on a decline in the price of EOS. It's important to note that leveraged tokens carry high risk and are typically used by experienced traders. Short-term trading or hedging are the common methods of utilizing such tokens.

What Are the Risks of Trading 3X Short EOS Token?

Trading EOSBEAR, like all leveraged and inverse products, involves substantial risk. Its leveraged nature means that losses can accumulate quickly if the market moves against the position. It’s also subject to decay over time as a result of daily rebalancing, which can erode profits or exacerbate losses, particularly in volatile or trending markets.

Where Can You Buy 3X Short EOS Token (EOSBEAR)?

EOSBEAR can be purchased on the FTX cryptocurrency exchange. Being an ERC20 token, it's also possible that it's listed on other exchanges that support ERC20 tokens and leveraged products. Make sure to check credible cryptocurrency exchange platforms to find where EOSBEAR is currently traded.

How Do You Store 3X Short EOS Token Safely?

Since EOSBEAR is an ERC20 token, it can be stored in any wallet that supports ERC20 tokens. To store EOSBEAR safely, use reputable hardware or software wallets that provide strong security features to protect your assets. Remember to always keep your private keys confidential and secure.

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