3X Short Ethereum Classic Token price is $0.00000005
The 3X Short Ethereum Classic Token (ETCBEAR) is currently trading at $ 0.00000005. It has increased by +0.00% in the last 24 hours. As a leveraged token, the price movement of ETCBEAR is more volatile compared to its underlying asset, Ethereum Classic.
The 3X Short Ethereum Classic Token (ETCBEAR) is an ERC20 token that provides traders with a way to gain exposure to leveraged trading positions without the complexity of managing a margin account. ETCBEAR aims to return -3 times the daily return of Ethereum Classic. Essentially, if Ethereum Classic's value falls by 1% in a day, the ETCBEAR token is designed to go up by 3%, and vice versa.
ETCBEAR is created by the cryptocurrency exchange FTX. Leveraged tokens like ETCBEAR are part of FTX's suite of innovative trading products, designed for experienced traders who understand the risks and mechanics of leveraged trading.
ETCBEAR operates by using derivatives and debt to amplify trading outcomes. When you buy ETCBEAR tokens, you're essentially entering a short position on Ethereum Classic that is leveraged three times. The token's performance closely tracks three times the inverse of the daily return of Ethereum Classic, which means that it can see significant price swings.
What's unique about ETCBEAR is that it allows traders to bet against Ethereum Classic with leverage, without requiring a margin account. It simplifies the process of taking a short, leveraged position, which may appeal to traders looking for quick entry and exit without the need to worry about collateral, liquidation points, or margin calls.
The value of ETCBEAR is calculated based on the performance of Ethereum Classic. Since it's designed to offer -3x the daily return, the value fluctuates in direct opposition to the behavior of the Ethereum Classic market, and is then multiplied by leverage. It's important to note that leveraged tokens like ETCBEAR are rebalanced daily, which can affect long-term performance due to the compounding of daily returns.
Trading ETCBEAR comes with high risk. Leveraged tokens can potentially lead to significant financial loss, especially if the underlying asset moves in the opposite direction of the bet. Additionally, their value can erode over time due to the daily rebalancing feature, which can make them unsuitable for long-term holding.
The circulating supply of ETCBEAR tokens can vary. Since these tokens are designed to provide leveraged exposure, there may be mechanisms such as creation and redemption that can alter the supply. The current circulating supply is tokens.
You can purchase ETCBEAR tokens primarily on FTX, the exchange that created them. As it is an ERC20 token, it may also be available on other exchanges and trading platforms that support ERC20 tokens and have opted to list ETCBEAR.
Keeping your 3X Short Ethereum Classic Token safe involves the same security measures you'd take with any cryptocurrency. Utilize secure wallets, preferably a hardware wallet if you plan to hold the token for any duration. Moreover, ensure you use strong, unique passwords and enable two-factor authentication for your accounts on exchanges. Always be aware of phishing attempts and never disclose your private keys.
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