..When you are simple to exemplify the ethbull, if we will exemplify ethmen, you are as if you have done 3x eth long process. In other words, ethereum price increases 1%, ethbull is increased by 3%, or if 1% ethereum falls 3% decline.
The advantage of this parity is trading in the normal exchange, you do not need to follow any of the collateral, margin, liquidity prices and so on the leveraged stock exchange. Simplified allows you to make leveraged action. The prices show small differences wit