Houbi Adds Crypto.com Coin Perpetual Swaps (CRO)
Cryptocurrency exchange Huobi announced to its users that two new currency pairs have appeared on its platform. We are talking about the CRO token from the Crypto.com wallet and the FTM from the Fantom smart platform. The income will be paid in USDT.
A swap is not a cryptocurrency itself, but a financial product whose price depends on the value of the underlying asset. It is called a financial derivative. Investments in swaps on the exchange bring good returns:
- First, the Crypto.com wallet token has significantly strengthened its position in 2021. Many new users have joined the platform, including sellers who accept cryptocurrency in exchange for goods and services.
- Secondly, the project team made a successful marketing move, investing $ 700 million in unusual advertising. As part of the deal, the popular American Staples Center will be renamed Crypto.com Arena.
- Thirdly, it is profitable to receive income from investments in CRO, since in 2021 the Cronos network was launched, compatible with the Crypto.com blockchain. With its help, it is planned to establish the scaling of the DeFi and dApp ecosystem.
Perpetual swaps on Huobi allow users to open a trade by placing a bet on the future price of the underlying asset (CRO or FTM). You can earn money by betting on the growth in the value of tokens by opening long positions, and by predicting a decline in prices when opening a short position.
True, you need to be careful when investing. Experts looking at the situation with the CRO token say that the influx of new investors is now driven by the FOMO effect. They are afraid of missing out on profits, and any reckless purchases always threaten the stability of a digital asset.
According to Santiment, this behavior of cryptocurrency traders is a bearish indicator. Because of this, there is high volatility in the market. Asset price surges interfere with making a profit. Therefore, beginners should study the asset on the Huobi exchange so as not to be mistaken.
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