Update! Listing Pre-market Futures DOGS Begin!
2024-08-08
Bittime – OKX announced the launch of USDT-margined pre-market futures for DOGS tokens on August 5, 2024. Below is the full explanation.
Future Pre-Market DOGS
This DOGS future pre-market announcement allows traders to trade futures contracts with up to 2x leverage for soon-to-be-launched tokens, before they are available on the spot market.
OKX pre-market futures allows users to trade futures using USDT as margin for crypto assets that have not been officially registered.
This feature provides traders with the opportunity to participate in price discovery of new crypto assets before they are officially traded on the spot market.
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Key Features of DOGS Pre-Market Futures Contracts
Here are some of the key features of the DOGS pre-market futures contract:
- Basic index: DOGS/USDT index (last price of contract)
- Settlement currency: USDT
- Face value: 1000 DOGS
- Price quote: based on the USDT price of 1 DOGS
- Tick size: 0.000001
- Leverage: 0.01 - 2x
- Trading hours: 24/7
- Contract type: futures contract
What are DOGS?
DOGS is a meme token that has recently emerged as a major player by leveraging the power of the TON community and blockchain to build a Telegram-based ecosystem.
Most DOGS tokens are distributed to the community, creating a strong sense of ownership among holders.
With the launch of pre-market futures for DOGS, OKX provides a new opportunity for traders to participate in the token's potential growth.
What are Pre-Market Futures?
Pre-market futures are futures contracts that allow traders to trade crypto assets before they are officially listed on the spot market.
In this case, traders can transact using USDT as margin to predict DOGS token price movements before its launch.
Opportunities and Risks of Future Pre-Market DOGS
The launch of pre-market futures for DOGS offers several opportunities for traders:
- Initial Participation: Traders can get involved in price movements early on, potentially making bigger profits if the price rises after the official launch.
- Hedging: Pre-market futures can be used as a tool to protect a portfolio from potential price declines after launch.
- Speculation: For traders who have a bullish or bearish view of the DOGS token, pre-market futures can be an instrument for taking positions.
However, keep in mind that futures trading involves risks. The price of the underlying asset can be highly volatile, and leverage can magnify potential gains and losses.
Therefore, it is important to understand the risks involved and manage positions well.
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Factors Affecting Price
DOGS pre-market futures prices will be influenced by several factors, including:
- Market Anticipation: Market sentiment towards the DOGS token before the official launch will influence the futures price.
- New Information: News or developments regarding the DOGS token may cause price volatility.
- Global Market Conditions: Macroeconomic factors such as stock market and currency movements can influence futures prices.
Conclusion
OKX's launch of pre-market futures for DOGS is an innovative move that provides traders with new opportunities to participate in the crypto market.
However, as with all forms of trading, it is important to understand the risks involved and conduct a thorough market analysis before making any investment decisions.
How to Buy Crypto on Bittime
You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime.
Monitor graphic movement of Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL), and other cryptos to find out today's crypto market trends in real-time on Bittime.
Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.
