On Thursday, Hong Kong-based FTX.com announced that it will be integrating the $ RON SkyMavis brand into their Perpetual Futures market. Many people are surprised (and confused) because the long-awaited sign has not been found. It was launched in November 2020, and many enthusiasts (including me there) began collecting $ RON tokens by borrowing our money from the Katana decentralized exchange. But the symptoms we found are still unknown. What’s going on here? Let’s find out!
These ideas translated into Tagalog by BitPinas came from Luis Buenaventura II Cryptoday Column here. The Tagalog translation for Cryptoday published one or two days after the English Bible was released. (This came out three days later.) Luis is the Philippine leader at the Yield Guild Games, founder of BloomX, a licensed retailer in the Philippines, and founder of the Cryptopop Art Guild. For any comments and questions, please write to Luis directly Twitter.
What is Futures?
If you do not know about ‘Perpetual Futures’, here are some refreshments. In its simplest form, a futures market is a way for people to bet on a possible future (future price) of commodities (Ronin’s sign in this case). The definition is surprising, because many of you are already doing this especially if you are buying Ethereum now, hoping to increase its value in the future. If you do this, you are probably selling it on the local market, either buying ETH or holding it until the price reaches the price you want. Or sell it if the price is lower and you have to save all of your initial investment.
However, in the futures market, you should not hide what you have: you are just betting on what the future price will be. If you choose to withdraw money, you will receive the current value of the currency, usually USD or other stablecoin. We call this market “based”, because their value is based on the real value of goods in the global market. The Kraken ali good report about history from crypto here. This is for entrepreneurs who still want to explore this country.
What is Perpetual Futures?
“Perpetual Futures” is a type of futures market popular with Bitmex in 2016, although this concept has been implemented. A good future always has an expiration date, this is a day when the trade ends and the seller receives the results of his bet. (In some cases, all merchant betting is lost. This is not dangerous). On the other hand, Perpetual Futures remains open until the seller decides to press the “Market Close” or “Lose Bet” button in some other way.
The price of Perpetual Futures or “PERP” is usually close to the real market, because you are not trying to predict what the stock price will be on a real future. So when FTX announced their RON-PERP market, my first suspicion was that they were trying to estimate its value before releasing the $ RON mark on the market. (This indicates that it will soon start in the next few weeks)
RON-PERP in FTX
When I woke up this morning, RON-PERP had been trading for about seven (7) hours. Apparently its price started at $ 4.80 last night at 11pm before its price could ‘drop’ to $ 4.20 immediately. When I saw the price this morning, it was already playing at $ 5, and it also became my leisure time — even my RON position that went up on Katana DEX. If we all did, you probably borrowed money from Katana DEX when fiat exchanges for ETHs, AXS and SLPs were good. I have been collecting RON prizes for two months, and due to a fall in market price, the $ RON price must reach $ 5 to be able to claim my refund last November. $ 5 is a good price already (this shows 350% APR from Katana liquidity sources) but if this saves my Portfolio this month, it should be priced at $ 7.
I tried to buy $ 489 worth of “RON-PERP” for $ 4,9850. The picture above was taken an hour after my purchase, then PnL (profit & loss) says I lost $ 13. If I clicked on “Market Closure,” I would receive “Imaginary Growth” from trading, or $ 485. ) The RON-PERP market is still young and unpredictable… start today. We are currently seeing a $ 1M per hour sales volume which is one-third of AXS-PERP’s current activity.
Is this the real value of the $ RON Token?
Let me answer a question that I am sure is on your mind right now: is this the real value of $ RON? The answer is ‘Yes’ and ‘No’. This price is real because this is the price that the RON-PERP market is claiming today. But if you think, RON-PERP is just a small part of the whole $ RON group, so it does not represent the whole market. Keep in mind that 15% of worldwide NFT transfers go through the Ronin chain, so knowing the “real” price of $ RON is a good idea to wait until it is available on the exchange to determine the correct price. .
See you next week, crypto friends! Don’t be sad about these days when the market is down.
This article was published on BitPinas: Cryptoday 066 – $ RON Perpetual Futures from FTX (Tagalog)
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