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Cryptocurrency Derivatives Series: HEDG Token Sinks After Bittrex Rolls-out HedgeTrade, Recovery Likely Despite Brief Halting
Ever since ‘Rublix Development’, the global fintech firm specializing in innovative financial tools for cryptocurrency markets, announced recently about the listing of their ‘HEDG’ token with Bittrex exchange, the price reflects a steep slumps up to 0.00008250 and attempted to bounce back thereafter with some recoveries up to 0.000085 levels (refer above price chart).
While the coin’s intraday swings, for now, is looking to go in sideways, sensing some nervousness though. The intraday trading in HEDG wouldn’t bring much today as we could foresee the underlying asset tend to be heading towards south. The traders can stay invested and wait for the bounce-back to come out of the recent losses. The HEDG is currently trading at 0.00009168 BTC, though the token price sinks considerably after Bittrex rolls-out HedgeTrade, recovery seems to be most likely despite halting its yields momentarily.
HedgeTrade platform enables their traders to utilize to the HEDG token, HedgeTrade assumes its platform as an advanced digital asset trading platform based in Europe, that could be utilized in multiple ways.
Primarily, the users can generate blockchain-authenticated projection blueprints on trading pairs from multiple exchanges. Thereby, one can earn ‘HEDG’ by staking tokens and offering their predictions on the ‘Blueprint Marketplace’.
Secondly, immature traders can purchase these Blueprints by using HEDG tokens, imparting them the knowledge that is essential to make trades alongside the pros.
In case the projection goes incorrect, traders who purchased the Blueprints get their ‘HEDG tokens back’ without getting any other rewards. Meanwhile, any tokens staked by traders to back up their prediction are returned to the purchasers as well.