|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
BONE's Margin Trading Debut: Appetizing Gains or Risky Recipe?
Mar 22, 2024 at 07:55 pm
BONE, the gas token of Shiba Inu's Shibarium, surged 6% following its margin trading debut on Gate.io. Margin trading, while potentially lucrative, carries high risks due to crypto's volatility. Gate.io's BONE margin trading terms include hourly borrowing rates, KYC verification, and varying rates based on VIP status. The listing on Gate.io marks another step in BONE's growing accessibility and relevance in both the Shibarium ecosystem and the wider crypto market.
BONE's Margin Trading Debut: Appetite for Gains or Recipe for Risk?
Bone ShibaSwap (BONE), the native gas token of the Shiba Inu ecosystem's layer-2 network Shibarium, has seen a 6% surge after its margin trading debut on Gate.io. The listing, announced on March 21, has sparked excitement among traders eager to leverage their positions.
Margin Trading: Amplifying Gains or Magnifying Losses?
Margin trading involves borrowing funds from an exchange to purchase an asset, with the goal of maximizing potential returns. However, this practice carries inherent risks due to the volatile nature of the cryptocurrency market. Traders must carefully weigh the potential for gains against the risk of significant losses.
BONE Margin Trading on Gate.io: What's the Deal?
Gate.io's BONE margin trading offering mirrors its existing terms for other borrowable assets. The exchange applies an hourly borrowing rate, currently set at 0.000100%, or 0.88% annually. At the time of writing, approximately 83,323 BONE is available for borrowing, equivalent to $76,380 USDT.
Accessibility and VIP Perks
To access the margin trading feature, users must complete Know Your Customer (KYC) verification. The borrowing rate decreases as traders ascend through VIP levels. At VIP Level 16, the daily and annual rates drop to 0.000105% and 0.93%, respectively, with individual loan limits capped at 20,000 BONE.
BONE's Listing Odyssey: A Path to Recognition
In the past year, members of the Shiba Inu community have clamored for BONE listings on major exchanges like Binance. While rumors of a Huobi listing and token accumulation by OKX have surfaced, BONE's presence on Gate.io marks a significant milestone.
BONE's Price Response: A Tailwind of Optimism
The news of the listing has provided a tailwind for BONE's price, which currently stands at $0.9185. This represents a modest 0.85% gain over the past 24 hours and a 6% increase over the past week. Traders are likely betting on the potential for BONE to appreciate as Shibarium gains traction.
Cautionary Tale: Margin Trading's Double-Edged Sword
While margin trading can amplify gains, it also amplifies risks. Traders should proceed with caution, understanding that losses can exceed their initial investment. Responsible trading practices, including setting stop-loss orders and monitoring market conditions, are crucial to mitigating potential losses.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Polygon Powers Hong Kong's Emergence as a Global Crypto and Web3 Innovation Hub
- Oct 30, 2024 at 10:20 am
- Hong Kong is making a bid to become a leading hotspot for crypto innovation. The recent Hong Kong Chief Executive's Policy Address highlights this push, with explicit mentions of the city's innovative initiatives: A stablecoin issuer “sandbox,” pioneering CBDC cross border payments, real-world asset tokenization, and promoting the development of digital securities market.
-
- 3 Intriguing Crypto Presales With Predictions for Their Future Once They Launch
- Oct 30, 2024 at 10:15 am
- With Bitcoin and other key cryptocurrencies trending upward, fresh opportunities are arising for new presales. Below are some of the most intriguing crypto presales currently available, along with predictions for their future once they launch.
-
- Crypto Analyst Miles Deutscher Unveils New 'Hidden RWA Altcoin Gem' With 20x Potential
- Oct 30, 2024 at 10:15 am
- In his latest video analysis titled “I Just APED Into This Hidden RWA Altcoin Gem! [20x Potential],” prominent crypto analyst Miles Deutscher unveiled Chintai (CHEX) as his latest high-conviction investment within the Real World Assets (RWA) sector.