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XRP-Focused Platform Bitrue Adds Leverage Tokens for Cardano (ADA), Bitcoin (BTC)

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Thu, 07/15/2021 - 14:23
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Vladislav Sopov
Traders interested in flagship crypto and leading PoS blockchain can benefit from BTC, ADA price swings in both directions
XRP-Focused Platform Bitrue Adds Leverage Tokens for Cardano (ADA), Bitcoin (BTC)
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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).

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.

Related
XRP-Centric Exchange Bitrue Greenlights Cardano, Solana, XinFin, Here's How

As 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).

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)