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How Will the Rest of 2021 Look for Altcoins?
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If you’ve paid any attention to the cryptocurrency industry this year, you’ll know that meme- and food-inspired altcoins have generated spectacular returns.
Whether it’s Elon Musk’s favorite DOGE, the SUSHI governance token, or some other baffling blockchain-based asset, the impressive performance of certain altcoins has provoked an enormous amount of mainstream interest that has pushed the industry’s collective market cap past the $2 trillion mark for the first time.
The question is, can alts continue in a similar vein for the rest of the year?
KuCoin Expands in the Derivative Market by Launching Leveraged Tokens
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VICTORIA, Seychelle, March 3, 2021 /PRNewswire/ On March 3, 2021,
KuCoin, an IDG-backed crypto exchange, announced that its leveraged tokens have been made available for beta test. The first batch of leveraged tokens to be introduced are BTC3L, BTC3S, ETH3L and ETH3S, and invited users will be able to trade the tokens in the KuCoin Sandbox. The feature will be officially launched in the middle of March.
Leveraged tokens are a new type of crypto derivative without any due date. Its trading experience is quite user-friendly as it s essentially the same as trading in the Spot market. Compared to perpetual contracts on KuCoin Futures, traders of leveraged tokens can also amplify their investment returns with leverage. While the biggest advantage of leveraged tokens is that they will never be liquidated.
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