Advertisement
AD

Main navigation

Advertisement

Binance Coin (BNB) Leveraged Tokens Available on Binance

Advertisement
Wed, 11/03/2020 - 11:49
Binance Coin (BNB) Leveraged Tokens Available on Binance
Cover image via www.shutterstock.com
Read U.TODAY on
Google News
Advertisement

Shortly after the first line of FTX-provided leveraged tokens was released for trading on the Binance (BNB) exchange, its native asset, Binance Coin (BNB), also became available for trading with leverage.

Binance Coin (BNB) for bears and bulls

Today, the Binance (BNB) cryptocurrency financial ecosystem announced that leveraged tokens BNBBULL and BNBBEAR are available for trading on Binance starting March 11, 2020. The tokens are designed by the FTX crypto derivatives exchange.

According to the official announcement, both tokens will be traded against BUSD and USDT stablecoins, so, four new trading pairs have been launched. BNBBULL and BNBBEAR are ERC-20 tokens representing 3X Long BNB Token and 3X Short BNB Token. As a result, the owners of the new assets can benefit from bullish and bearish market moves demonstrated by Binance Coin (BNB).

Advertisement

Margin trading simplified

From the trader's point of view, leveraged tokens by FTX are normal spot assets. That said, with BEAR and BULL tokens on Binance (BNB), users can enjoy the profitability of margin trading with no need to manage collateral, margin, liquidation prices.

Related
 

As previously reported by U.Today, one week ago similar assets went live on Binance DEX, a decentralized trading platform from Binance. Unlike ERC-20 BNBBULL and BNBBEAR tokens, leveraged assets on Binance DEX are issued on the Binance Chain as BEP2-versions of leveraged contracts.

U.Today reminds that margin trading is a very high-risk option. Assets of this type are subject to unmatched volatility and, thus, may gain or lose large amounts of their value in a single day. 

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD