Binance lists new leveraged tokens: BNBUP, BNBDOWN, XTZUP and XTZDOWN
Leveraged tokens are more and more popular with traders and individuals although these crypto derivatives carry much more risk due to the leverage effect if there is a loss and not a gain.
After adding leveraged tokens for Bitcoin, Ethereum and Link, Binance is therefore launching new leveraged tokens for BNB and Tezos XTZ: BNBUP, BNBDOWN, XTZUP and XTZDOWN.
Very popular cryptocurrencies in trading and which should therefore be of interest to many traders who are fond of leveraged trading on Binance.
A Chainlink (LINK) price approaching $10.
Leveraged token trading that is also increasingly done with Bitcoin bots and crypto trading bots.
Platforms like Kryll which notably offers, on its marketplace, trading strategies for rent with these leveraged tokens on Binance and FTX Exchange.
A trader can also create his own crypto trading bot for his trading strategies and have, for example, a tailor-made binance bot.
The new leveraged tokens BNBUP, BNBDOWN, XTZUP and XTZDOWN are therefore based on the same principles as BTCUP and BTCDOWN.
BNBUP allows you to generate leveraged gains when the BNB price goes up.
BNBDOWN allows you to generate leveraged earnings when the BNB price drops.
XTZUP allows you to generate leveraged gains when the XTZ price increases.
XTZDOWN allows you to generate leveraged earnings when the XTZ price goes down.
A leverage effect for these tokens which is between 1.5x and 3x, which therefore maximizes the gains but also the losses if the trade is a loss the trader.
If you are interested in these new leveraged tokens, you can find them on the Binance leveraged tokens page.