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SGT 0830
📉 BTC | $60,636 (-$2,553, -4.0%)
📉 ETH | $4,149 (-$99, -2.3%)
📈 XRP | $1.11 (+$0.01, +0.8%)
📈 LTC | $198 (+$2, +0.9%)
📉 Total Crypto Market Cap: $2.57T (-1.9%)
🧐 Bitcoin’s major Taproot upgrade is due for the 16th of November – although many crypto analysts are of the opinion that the upgrade has already been priced in, and will have minimal effect on Bitcoin prices. The upgrade will focus on improving transaction privacy, while allowing for smart contracts to be utilised on the Bitcoin network for the first time.
🔎 Long-term holders of Bitcoin have been selling off their holdings over the past week, taking advantage of the new all-time high to offload around 39.5K BTC in total (Glassnode data). The total supply of Bitcoin held by long-term holders (more than 155 days) is however still at highly elevated levels however, at approximately 13.3 million as compared to a low of around 11 million in April’s sell-off.
🎢 Crypto hero Robinhood (-8.5% after hours) got brutally chopped yesterday as a fall in cryptocurrency trading revenue led to an earnings miss of around -15%. The company is expecting a further decline in revenue for Q4, but will continue growing cryptocurrency-related services such as a highly-anticipated crypto wallet.
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.
