Binance officially launched a soccer fan token index, showing data for trading futures of these tokens with leverage. The index tracks the listing and market capitalization of the top fan tokens listed on the exchange, which include several top European football teams.
The official launch of the FOOTBALLUSDT Perpetual Contracts index was today, Thursday, September 1, 2022. It is now available in the Futures section for users of the platform.
will allow trading futures of any of the fan tokens listed in the index with various crypto assets and with a leverage of up to 25x.
Some of the biggest club fan tokens in Europe are included in this Binance index. For example, those of FC Barcelona, Manchester City, AC Milan, Juventus and Paris Saint Germain.
What is Futures Trading and Fan Token Leverage?
You see, fan tokens work like a cryptocurrency dedicated to a football club or other sports entity. In the case of those offered by Binance, these are developed on the BNB Chain and Chiliz networks, and can be traded like any other cryptocurrency on the exchange.
The price of these tokens varies depending on their supply and demand, which in turn can be influenced by factors such as the current status of the group they represent, as well as other events that go beyond the merely sporting level.
Trading futures with this index means that the investor can open positions long (long) or short (short). That way you will benefit from the increase or decrease in its price, respectively.
On the other hand, leverage consists of taking a credit to multiply the investment in a certain asset. While it is a useful technique for increasing returns, it can also make losses larger if the investment returns negatively.
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