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3X Short Chainlink Token Price (LINKBEAR)
$0.00000001
49.81%
Rank #6699
3X Short Chainlink Token Price Chart (LINKBEAR/USD)
Last updated 15 Jun 2022, 20:37PM UTC. Currency in USD.
Markets
# | Exchange | Pair | Price | Spread | Volume(24h) | Trust |
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LINKBEAR Price Statistics
$0
24H Range
$0
- 3X Short Chainlink Token Price Now $0
- 24h Low / 24h High $0 / $0
- Trading Volume $2,572
- Market Cap Rank #0
- Market Cap $0
- Volume / Market Cap 0.0000
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All-Time High
$8,843 -99.99%
Dec 18, 2019 -
All-Time Low
$0 105.15%
May 12, 2022
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3X Short Chainlink Token: A Closer Look at this Cryptocurrency
Introduction
3X Short Chainlink Token is a cryptocurrency that has gained significant attention in recent times. It belongs to a class of tokens known as leveraged tokens, which are designed to provide amplified exposure to an underlying asset. In this case, the underlying asset is Chainlink (LINK), one of the leading cryptocurrencies in the market.Understanding 3X Short Chainlink Token
As the name suggests, 3X Short Chainlink Token aims to provide triple the inverse performance of Chainlink on a daily basis. This means that if Chainlink's value decreases by 1% in a day, 3X Short Chainlink Token should theoretically increase by 3% that same day. Likewise, if Chainlink's price goes up by 2% on a particular day, 3X Short Chainlink Token may drop by 6% on that day.It's important to note that 3X Short Chainlink Token is a leveraged product. While it offers the potential for increased gains when Chainlink's price declines, it also carries higher risks. Due to the daily reset feature of leveraged tokens, if Chainlink's price experiences significant volatility over multiple days, the performance of 3X Short Chainlink Token may deviate significantly from its intended objective.
Investing in 3X Short Chainlink Token
Investing in 3X Short Chainlink Token requires a good understanding of Chainlink's price movements and an informed strategy. It is essential to conduct thorough research and analysis before considering any investment. As with any leveraged product, it's crucial to be mindful of the risks involved and carefully consider one's risk tolerance and investment goals.Furthermore, it is advisable to keep in mind that 3X Short Chainlink Token is built for short-term trading and not recommended for long-term holding. The daily reset feature makes it unsuitable as a long-term investment tool due to the compounding effect on its performance.