3X Short Kyber Network price is $0.00000049
The current price of 3X Short Kyber Network (KNCBEAR) is $ 0.00000049. Over the last 24 hours, the price has increased, indicating a change of +0.00%.
3X Short Kyber Network, or KNCBEAR, is a leveraged token that seeks to provide inverse exposure to the daily return of Kyber Network. If Kyber Network's price declines on a given day, KNCBEAR is designed to increase in value, typically at three times the rate of that decrease, and vice versa.
Leveraged tokens like KNCBEAR offer traders magnified exposure to the daily price movements of the underlying asset—in this case, Kyber Network. They are complex financial instruments that utilize derivatives like futures and swaps to achieve their targeted leverage ratio, which for KNCBEAR is 3X. It's important to note that such tokens rebalance daily, which means the compounding effect can lead to differing outcomes over the long term compared to holding a static leveraged position.
The core technology behind leveraged tokens like KNCBEAR typically involves the use of derivative contracts to achieve the desired leverage. These tokens are often built on blockchain platforms and may utilize smart contracts to automate aspects of their operations, such as the daily rebalancing required to maintain the target leverage level.
Leveraged tokens are generally considered high-risk financial products due to their inherent volatility and the complexity of how they operate. Criticisms often include the potential for significant losses, especially if left unmonitored over time, due to their daily rebalancing feature which can lead to decay in value during volatile market conditions. Many advise only experienced traders to engage with these products.
The price of 3X Short Kyber Network (KNCBEAR) is determined by the underlying price movements of Kyber Network, in combination with the daily rebalancing actions taken to maintain the token's target leverage ratio. Demand for the token itself within the market also influences its price.
The current market capitalization of 3X Short Kyber Network (KNCBEAR) is $ . It holds the rank #1 in the market cap rankings.
Trading 3X Short Kyber Network should be done with caution due to the complexities involved. It is typically available on a range of cryptocurrency exchanges, but potential traders should ensure they understand the product and the risks associated before engaging in trading.
You can purchase 3X Short Kyber Network (KNCBEAR) on . Make sure to do thorough research and understand the specifics of leveraged tokens before attempting to buy or trade.
Please note that the availability of KNCBEAR and other leveraged tokens can change, so it's important to check the latest listings on the exchanges.
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