SGT 0815
📉 BTC | $42,042 (-$649, -1.5%)
📉 ETH | $2,907 (-$47, -1.6%)
📉 XRP | $0.92 ($0.00, -0.4%)
📉 LTC | $145 (-$3, -1.8%)
📉 Total Crypto Market Cap: $1.87T (-2.2%)
📊 Bitcoin transaction volumes and “active entities” have now dropped to bearish levels seen in 2016 and 2018. The growth rate of new Bitcoin holders is also declining, signalling less participation (and interest) by retail traders.
🌊 Highly Liquid Coins (coins held on exchanges – where they can be easily sold) are however at a multi-year low, with more and more participants withdrawing their BTC from exchanges. This means that more coins are less likely to be re-spent in the coming months, with Long-Term Holders now actually holding over 80% of all circulating Bitcoin – an all-time high.
🤔 De-centralised Finance and Exchange projects (many based on the Ethereum or Solana networks) are continuing to outperform following the Chinese government’s nth ban on cryptocurrency activities, with many seeing this as proof of the industry’s viability.
Cryptocurrency CFD is available for trading on Phillip MetaTrader 5 (MT5).
Features of trading CFD
- Trade in both the bull and the bear markets
The ability to enter a long and/or short position allows traders to take advantage of both rising and falling markets. - Smaller barrier to entry
CFDs typically have flexible and smaller contract sizes. This means that traders will be able to enter into a CFD contract with a modest amount of capital. - No expiration date or risk of delivery
Unlike futures which commonly have a fixed expiration date, CFDs allow traders to perpetually hold the position(s). CFDs are cash settled, no need to worry about the delivery of the underlying asset.
Trade Bitcoin, Ethereum, Litecoin, and Ripple CFDs at zero commission on Phillip MetaTrader 5, a dynamic platform that offers low spreads. Integrated with Acuity Signal Centre and Trading Central Indicators, and available on mobile, web and desktop app, you will never miss a trading opportunity with Phillip MT5.
Download Trading Central’s Market Buzz for updates on more topics.
What’s more? Phillip MT5 is now supported on Mac OS! To install, simply download the file below and complete a simple installation process.