Without any recent trades or other prominent items in Crypto news to write about, I'll often head over to CoinMarketCap to see what's going on.
Sometimes a coin stands out and there are plenty of links to follow for more in depth info about each token. One place I like to check while browsing the CMC website is the new token listings.
It's interesting to pick a couple new tokens, do a bit of research, and write out my findings. Today, however, it was the sheer amount of new listings that caught my eye.
Bull & Bear Tokens / 3× Long or 3× Short
Perusing the new tokens just added today, a great majority are either 3× Long or 3× Short offerings. This is interesting. Instead of shorting or borrowing to go long yourself, you pick up a representative token.
All sorts of popular tokens have listings in this category. Some examples of the 3X tokens are:
- Long Chainlink
- Short Chainlink
- Long Cardano
- Short Cardano
- Long Algorand
- Short Algorand
And several other like tokens appear in the list as seen in the images below.
Not Sure If Unibomb Is The Best Name For....Anything!
The Afri Union Coin Looks Interesting
Above Is A Big Group Of Long Tokens.
More Longs With A Few Shorts Included.
There Are Some More Shorts And A HAPY Coin!
Signs Of A Growing Market?
I'm definitely no expert and in no way is this financial advice. It does seem to me that the addition of all these new tokens are in preparation of a booming Crypto marketplace.
According to CoinMarketCap, the total cap on the market sits at $343,646,472,992 with a daily volume of 84,141,415,166.
The Above 3 Month Chart Shows The Market Cap Pass 350 Billion....And It's Headed Back Up!
Reports Of An Increase In Signups, Traffic & Volume
According to Bitcoin.com, both Kraken and Coinbase reported large increases in these metrics. In fact, they continued their growth as BTC fell from 12,000.
Another metric that's popular when gauging the overall sentiment of Cryptocurrency are the amount of searches on Google.
Here again, reports are that the keywords Buy BTC have absolutely skyrocketed in search volume. Research indicates that inquiries on search engines such as Google, Baidu, and Twitter are up 183%
Exciting Days Ahead
With all the hype in the Cryptosphere these days, were bound for mind blowing months to come. Either way the market goes, really, seems like it will have a shocking effect to me.
You, I, and everyone else is hoping that those 3X Long tokens see plenty of profits. And in case they don't, there are always the 3X Shorts. I prefer to avoid the gambling on going long but I don't mind a solid trading pair.
What are your thoughts on the 3X tokens? Are these something new or did I just miss them before? How about the Cryptosphere at large? What are your projections?
Leave me a comment and let me know.
And as always...
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