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On March 4th, Daiwa Research reported that it expects Baidus (09888.HK) Kunlun Chip IPO valuation to be higher than its peers due to its larger revenue scale and better profitability. Currently, Kunlun Chip derives most of its revenue from external demand, with major clients including Tencent and a large telecommunications operator. Management stated that chip production capacity constraints are not a short-term concern for the company, as Kunlun Chip has secured sufficient supply to support development over the next two years. The bank reiterated its "Buy" rating on Baidu with a target price of HK$175 and maintained its earnings forecasts for this year and next. Recent catalysts include the Kunlun Chip listing and details of the 2026 dividend plan.Bank of Japan Governor Kazuo Ueda: It is crucial for the government to ensure market confidence in long-term fiscal sustainability.On March 4th, Jefferies Group released a report estimating that memory chip costs will surge 3.6 times this year for the vast majority of smartphone OEMs. Therefore, the bank estimates that Xiaomi-W (01810.HK) smartphone sales will plummet by 55%, partially offset by a 31% increase in average selling price. The main cuts are concentrated in mid-to-low-end phones, and approximately 60% of Xiaomis shipments have an average selling price below US$150. The bank forecasts that Xiaomis smartphone gross margin will drop by 7 percentage points this year to a record low of 4%. Coupled with a downward revision of its gross margin forecast for Xiaomis automotive business, the banks revenue and EBIT forecasts for Xiaomi this year are 16% and 34% lower than its market peers, respectively. Using a sum-of-the-parts estimation method, the bank drastically cut its target price for Xiaomi from HK$43.36 to HK$30.45, a reduction of nearly 30%, maintaining a "hold" rating, citing overly high market expectations for the company and the downside risk to earnings from persistently high memory costs.March 4th - Magdalene Teo, a fixed-income analyst at Julius Baer, stated that risk premiums, as measured by credit default swap (CDS) spreads, have widened due to increased uncertainty regarding the trajectory and duration of the Middle East conflict. CDS spreads in Asia are rising because prolonged disruptions to global shipping routes could exacerbate inflation and other problems, leading to tighter financial conditions. Teo stated, "The combination of rising oil prices and a stronger dollar is not an ideal situation for many Asian economies."Bank of Japan Governor Kazuo Ueda: Compared to the past, companies are more actively passing on costs affected by exchange rate fluctuations, and we remain highly vigilant about this when formulating policies.

Everything You Need to Know About Leveraged Tokens like TRXUP & BTCUP

Cameron Murphy

Apr 13, 2022 09:54


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In the crypto world, leveraged tokens are becoming more popular.


Binance leveraged tokens and FTX leveraged tokens are two prominent forms of leveraged tokens.

While leveraged tokens offer certain benefits, they also come with some hazards.


Because of the complicated principles and lack of knowledge, the world of cryptocurrencies is aptly referred to as the "wild west" of finance. To the untrained eye, the area seems to be a tangle of sophisticated currencies and ecosystems.


Leveraged tokens are one such complicated notion in the crypto-verse that will be examined in this post.

What are Leveraged Tokens?

Leveraged tokens, as the name indicates, provide traders and investors with a leveraged trading position. This would imply that while utilizing such tokens, profits and losses would be compounded.


Leverage coins, unlike typical trading techniques, are generally ERC-20 tokens that provide holders with leverage. Traders benefit from these tokens since they don't have to worry about margins or comprehend liquidation risk.


Customers may trade leveraged tokens on top exchanges including Binance, Bittrex, and FTX. By making this token class accessible to retail audiences, the same has functioned in its favor.


Leveraged tokens, unlike margin trading, let traders to obtain exposure to leveraged positions without putting up any collateral or risking liquidation. Traders, on the other hand, do not have to be concerned about liquidation risk or other hazards connected with leveraged tokens, such as the impact of price fluctuations in the perpetual contracts market, premiums, or funding rates.

Top Leveraged Tokens in The Market

Leveraged tokens are a collection of perpetual contract holdings whose value is linked to movements in the perpetual contract market. As a result, changes in the perpetual contract market have an impact on traders' leverage situations.


Some of the most popular leveraged tokens, such as TRXUP, BTCUP, and BTCDOWN, are linked to Tron and Bitcoin. TRXUP is a leveraged coin with a current price of $0.06156848 and a 24-hour gain of 4.02 percent, according to Coin Market Cap statistics. These coins are available for purchase on Binance, FTX, and other leading exchanges.


Binance, for example, provides leveraged tokens as a derivative that can be traded on the spot market. Leveraged tokens provide both fixed and variable leverage, and they rebalance themselves every day at 00:02:00 UTC or if the spot market price changes by 10%.


While leveraged tokens provide bigger earnings, they are vulnerable to volatility decay, or the negative effect of volatility on the investment. Another concern is that they often charge extra administration fees.


Daily management fees for top leveraged tokens like Binance Leveraged Tokens and FTX Leveraged Tokens are 0.01 percent and 0.03 percent, respectively.

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