The Binance platform, the largest cryptocurrency trading platform in terms of trading volume, has previously invested in the FTX platform, which we included a previous news about on the Arab Bitcoin website.

bears and bulls

The FTX platform offers cryptocurrency trading and offers crypto derivatives options to its users.

It is currently available on futures, options and leverage trading.

The agreement between Binance and FTX a few weeks ago led to the emergence of four new and backed tokens:

• Buy Bitcoin (Long) with 3X leverage BULL
• Sell ​​Bitcoin (Short) with 3X Leverage BEAR
• Buy Ethereum (Long) with 3X leverage, ETHBULL
• Sell ​​Ethereum (Long) with 3X leverage, ETHBEAR

As the above terminology suggests, bull tokens benefit from the rising price of Bitcoin (BTC) and Ether (ETH), while BEAR tokens reap profits when the market is down.

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All tokens are designed with 3x leverage, which means they give 3x the results of BTC or ETH.

for example:

A 1 percent increase in the bitcoin price means BULL, the bitcoin leverage token, will increase by 3 percent.

Whereas, if the bitcoin price drops, the BEAR token will be seen by three times.

Binance announced about a month ago that it had acquired a significant portion of the FTX derivatives platform, with long positions in FTX’s native FTT token.

Both platforms pledged to work together towards a mutual goal of ensuring the highest quality and profitability for their users.

Benefits of trading on the Binance platform

The FTX tokens listed on Binance are ERC20 and BEP2 compliant digital tokens that allow traders to multiply their profit potential using leverage.

In any normal leverage trading, the user must have advanced and in-depth knowledge of the financial market.

The trader must understand the risks and management of collateral, forced liquidation, margin and other aspects of leveraged trading.

The four leveraged tokens are traded just like any other digital currency, as users and traders of Binance can trade these tokens just like any other currency.

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But these currencies allow traders to increase their potential profits and incur losses by three times what Bitcoin or Ethereum does.

All FTX tokens are listed and traded directly on Binance, with both Tether and BUSD available for trading.

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