$VELODROME
Here’s an exciting breakdown of your trade post:
VELODROMEUSDT SELL 8665 @ 0.1937884
1. VELODROMEUSDT: This is the trading pair. You’re trading Velodrome (VELO) against Tether (USDT), a stablecoin tied to the US dollar.
2. SELL 8665: You are selling 8,665 Velodrome coins (VELO). This means you expect the price of VELO to drop, aiming to buy them back later at a lower price for profit.
3. Price 0.1937884: Each VELO coin is sold for approximately $0.1938. For 8,665 coins, the total value of the trade is about $1,678.21.
4. What it means:
If VELO’s price decreases, you can repurchase these coins at a cheaper rate, making a profit.
If the price rises, you may face a loss unless you adjust your plan.
This post highlights a bearish strategy, showing confidence in a price drop—a sharp move for profit in a declining market!
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