XRP-Focused Platform Bitrue Adds Leverage Tokens for Cardano (ADA), Bitcoin (BTC)
The leverage section of the Bitrue (BTR) exchange lists two more crypto heavyweights. Nine days after the XRP listing, leverage tokens for Bitcoin (BTC) and Cardano (ADA) have become available.
XRP, Bitcoin, Cardano available in Leverage module of Bitrue
According to the official announcement by the Bitrue (BTR) team, its newly launched "Leverage" module now supports two tokens based on Cardano (ADA) and Bitcoin (BTC).
Hot on the heels of a successful $XRP launch for our new leverage tokens, we're adding four more leverage tokens available right now!
— Bitrue (@BitrueOfficial) July 15, 2021
- BTC3L
- BTC3S
- ADA3L
- ADA3S
We'll have many more coming in the future, shout out which coins you want to see below.$BTC $ADA @Cardano pic.twitter.com/JwIRSPLMRo
Four tokens are implemented in this release: Bitcoin shorts and longs (BTC3L, BTC3S) and Cardano's pair (ADA3L, ADA3S).
Nine days ago, this section was opened by XRP "bullish" and "bearish" positions (XRP3L, XRP3S). The Bitrue (BTR) community met this addition with excitement as it is XRP-centric.
The Bitrue (BTR) platform also stressed that many more tokens will be available in the "Leverage" section as its Twitter followers have a say in a referendum on the next upgrades:
We'll have many more coming in the future, shout out which coins you want to see below.
What are leverage tokens?
Leverage tokens should be referred to as crypto-based derivatives and ETF-like synthetic assets at the same time. While the underlying asset price surges, the price of its "3X" token rockets three time faster.
Meanwhile, when the price of a leverage token's peg drops, its synthetic can nosedive close to zero.
Vladislav SopovAs covered by U.Today previously, Bitrue (BTR) offered a "fast track" listing program for projects built on Cardano (ADA), Solana (SOL), XinFin XDC Network (XDC) and Hedera Hashgraph (HBAR).
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Related articles
Alex Dovbnya
Dan Burgin