Why did my contract suddenly drop to zero? I confirmed that I didn't get liquidated. After waiting for a while, the money in my account is also gone. What's going on? I can't reach customer service, and the wait time is 60 minutes.
Dear user, hello. Three times or five times leveraged ETF products will increase price fluctuations, bringing greater profit and loss risks. Please be sure to understand in detail and participate cautiously. Due to the existence of timed and temporary adjustments, the rise and fall over a period of time do not always correspond to the target leverage multiple. ETF products hedge through the perpetual futures market; profits will enter a position while losses will reduce position. The leverage ratio is adjusted daily based on profits and losses back to the target leverage multiple, which can lead to significant wear under repeated market price fluctuations. Due to the adjustment mechanism and cost of holdings, leveraged ETFs are not suitable for long-term holding. The rise and fall of ETF products are large, and risks are high, so please be sure to participate cautiously. For specifics, you can refer to https://www.gate.io/zh/help/trade/leverage_tokens. If you have any questions, you can consult our customer service via the chat window.
You can't hold onto this thing for too long! Take the profit when you see it! Because there are wear and tear costs in between, which means it has a rise of 3-4 times when it goes up. And a fall of 6-7 times when it goes down. So holding it for the long term is a guaranteed loss.
What is this coin #DOGE5L , why is there no introduction, can it be held for the long term, can the knowledgeable brothers and sisters give an introduction?