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What are Binance BULL, BEAR ETHBULL,ETHBEAR tokens ?: What does 3x long Bitcoin token or 3x short ethereum token mean ?

What is the logic behind the pricing of these leveaged coins that have newly been listen on Binance.

BULL, BEAR, ETHBULL and ETHBEAR tokens are FTX self-leveraged tokens prices of which are determined by Bitcoin and Ethereum.

Pursuant to the pricing mechanism, leveraged token prices go up and down triple times depending on the token you invest in .

Here is a simple explanation to better understand what are Binance bull, bear, ethbull, ethbear as well as 3 long/short Bitcoin token and 3x long/short Ethereum token :

BULL : 3x long Bitcoin token, every 1% price rise in Bitcoin price, increases BULL price by 3%.

BEAR : 3x short Bitcoin token, every 1% price rise in Bitcoin price, decreases BULL price by 3%.

ETHBULL : 3x long Ethereum token, every 1% price rise in Ethereum price, increases ETHBULL price by 3%.

ETHBEAR : 3x short Ethereum token, every 1% price rise in Bitcoin price, decreases BULL price by 3%.