3X Short LEO Token price is $0.13362700
The price of 3X Short LEO Token (LEOBEAR) increased by +0.00% in the last 24 hours. It's important to note that, as with any leveraged and short tokens, the price can be very volatile and subject to rapid changes.
3X Short LEO Token (LEOBEAR) is a leveraged token that is designed to provide returns that are three times the inverse of the daily performance of the LEO token. It is an ERC20 token, which means it is built on the Ethereum blockchain and is compliant with its standards. This token is typically used by traders who expect the price of LEO to decrease and desire to leverage their position without trading on margin.
The 3X Short LEO Token was created by the team behind FTX, a cryptocurrency exchange. The FTX platform is known for creating and offering various leveraged tokens that track the performance of popular cryptocurrencies.
The 3X Short LEO Token operates by providing investors with triple the inverse exposure to the daily returns of the LEO token. If LEO's price falls by 1% in a day, the ideal outcome is that LEOBEAR's price will rise by 3% on that day (minus fees and expenses). It’s worth noting that these tokens reset daily, meaning that the leveraged effect applies to the daily return, and over longer periods, the compounding effect can lead to differing results.
The 3X Short LEO Token is unique because it offers a significant level of inverse leverage to the performance of LEO in a single day. This unique characteristic allows traders to short LEO, betting against its success, without having to use traditional margin borrowing methods.
The price of 3X Short LEO Token is determined by the daily performance of the LEO token. The value is engineered to move inversely to that of LEO by a factor of three, not considering fees and other expenses inherent to the token's maintenance and rebalancing activities.
The ERC20 standard is a set of rules that Ethereum tokens must follow, allowing them to be easily exchanged and interoperated with other Ethereum-based tokens and services. The 3X Short LEO Token, being an ERC20 token, adheres to these rules, which ensures it can interact smoothly with other Ethereum-based systems.
The circulating supply of 3X Short LEO Tokens is not fixed. It can vary significantly due to the token's nature, as it is created and redeemed based on demand and the performance of the underlying LEO token.
A leveraged token, like 3X Short LEO Token, is a financial derivative that offers leveraged exposure to the performance of an asset. In this case, it provides inverse leveraged exposure to the LEO token. It allows traders to amplify their trades without dealing with the technicalities of margin trading.
Leveraged tokens, such as the 3X Short LEO Token, can be considered riskier than ordinary cryptocurrency investments due to their leverage and complexity. They are typically used by experienced traders who are capable of managing the risk of rapid and significant price movements.
You can purchase 3X Short LEO Token (LEOBEAR) on the FTX exchange and other platforms that list ERC20 tokens and support leveraged tokens. Do ensure you are using a reputable exchange for your transactions.
To safely store your 3X Short LEO Tokens, you should use a wallet that supports ERC20 tokens. You have a choice between hardware wallets, which are considered the most secure, or software wallets that offer convenience. Always take precautions such as using strong passwords, enabling two-factor authentication, and keeping your private keys secure.
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