Trxup (TRXUP) is a Binance leveraged token with an underlying cryptocurrency, TRON’s TRX. The use of leveraged tokens allows users to get exposure to a leveraged trading position without having to deal with maintaining a margin account. In a simpler sense, Binance Leveraged Tokens (BLVTs) are assets that may be traded on the Binance spot market. Each leveraged token has an underlying asset. When the price of this underlying asset rises or falls, BLVTs gain leverage from price variations. Accordingly, in this case, TRX is the underlying asset.

TRX, often known as Tronix, is a cryptocurrency that operates on the TRON blockchain. Its mission is to build a decentralized internet. The TRXUP token seeks to enable users to make leveraged rewards when the price of TRX rises. Alternatively, TRXDOWN lets users leverage TRX’s fall in price.

The major challenge that BLVT seeks to address is the leverage range. Usually, leverage tokens that Binance does not maintain hold constant leverage. The BLVT aims to keep its intended leverage range variable, ranging from 1.25x to 4x. Binance attempts to maximize earnings while avoiding losses in order to avoid liquidation. Nevertheless, Binance also states that market movements might cause real leverage to move beyond the anticipated range. Accordingly, when the price of TRX rises, users may gain 1.25x to 4x of leveraged profits.

Further, Binance is the only liquidity provider and issuer of BLVTs. If the token supply runs out, Binance creates additional tokens, which the platform subsequently trades on the open market. As a result, users exchange their tokens and have their orders completed.

According to the Binance announcement, the TRXUP token was listed for trading on September 10, 2020.

Actualizamos nuestro TRXUP a la moneda MXN en tiempo real. Consulta el precio de TRXUP en tiempo real en Coinbase.