Binance Launches Binance Leveraged Tokens (BLVT)

On May 12, 2020, Binance announced they will be launching Binance Leveraged Tokens (BLVT). The initial launch will include two leveraged tokens: BTCUP and BTCDOWN.

These tokens will only be available on the advanced spot market trading terminal. Note that these tokens will not be available in the classic or basic trading terminals.

BTCUP will allow you to access leveraged gains when the price of Bitcoin increases and BTCDOWN will provide access to leveraged gains when Bitcoin decreases in price.

Additional Information

The amount of leverage for these tokens ranges from 1.5x to 3x depending on the conditions of the market. These tokens will not provide fixed leverage like the previously listed FTX tokens.

In addition to the variable leverage, the Binance Leveraged Tokens will use an as-needed rebalancing strategy. That will ideally allow the tokens to increase profit during favorable conditions and reduce losses during unfavorable market conditions.

Unlike other tokens, the leveraged tokens incur additional fees such as redemption, management, and funding fees. The daily management fee for holding the tokens are currently as low as 0.01%.

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BTCUP and BTCDOWN will be available for spot market trading through the Shrimpy application for all Binance customers. Sign up today to begin automating your crypto portfolio!

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