3X Short Ethereum Token price is $0.00000003
At the time of writing, the 3X Short Ethereum Token (ETHBEAR) $ 0.00000003. Over the past 24 hours, the price has decreased by -28.36%. Please note that cryptocurrency markets are volatile, and prices can change rapidly within seconds.
3X Short Ethereum Token, also known as ETHBEAR, is a type of derivative product called a leveraged token. It is designed to give traders leveraged exposure to Ethereum (ETH) with the convenience of holding an ERC20 token. Specifically, ETHBEAR seeks to provide a return that is -3 times the daily return of Ethereum. This means if Ethereum's price falls by 1% in a day, in an ideal scenario, ETHBEAR would increase by 3%, and conversely, if Ethereum's price increases, ETHBEAR would decrease in value.
ETHBEAR operates by using a combination of Ethereum futures contracts and swaps to achieve its leveraged exposure. When traders buy ETHBEAR, they are effectively entering a short position on Ethereum that magnifies the inverse of its daily performance. Since the token is rebalanced daily, the -3x exposure is only meant to match the daily return of Ethereum, and performances can diverge over longer periods due to the compounding effects of daily rebalancing.
ETHBEAR stands out as it provides an easy and accessible way for traders to speculate on the decline of Ethereum's value without having to manage a margin account or deal with the complexities of futures contracts. The token's unique -3x target multiplies the inverse exposure, attracting traders who expect a short-term decrease in Ethereum's value and wish to magnify their potential gains (or losses).
3X Short Ethereum Token can be purchased on a variety of cryptocurrency exchanges. The primary exchange offering ETHBEAR is Poloniex, GoPax, Binance, BitMax. Traders interested in getting involved with leveraged tokens like ETHBEAR should make sure they fully understand the risks and mechanics of such products before trading.
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