RATE Group | Opyn now lets you trade Ethereum with six times leverage
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Opyn now lets you trade Ethereum with six times leverage

23 Aug Opyn now lets you trade Ethereum with six times leverage

Posted at 17:35h in Ethereum News by

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DeFi fans who like to bet big have a reason to celebrate. You can now trade Ethereum with up to six times leverage—and supposedly, with no third party involved.

Opyn, a decentralized margin trading platform built on top of a bunch of decentralized finance (DeFi) protocols announced yesterday that it now provides an interface for users to trade Ethereum with big-time leverage. It claims to offer the highest available leveraging position for Ethereum in all of DeFi.

That’s great—or terrible—news for investors. While leverage trading allows someone to amplify their winnings, it equally amplifies their losses and can be very dangerous. That’s particularly true in the highly volatile cryptocurrency market that critics claim is prone to price manipulation.

Opyn launched its mainnet back in June. Later that month it released leverage trading up to 3.5 times, before raising it to five times in August. The latest news takes it now to six times. And for those so inclined, the fact…

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