📉 BTC | $61,274 (-$305, -0.5%)
📈 ETH | $4,348 (+$29, +0.7%)
📉 XRP | $1.10 (-$0.02, -2.1%)
📈 LTC | $198 (+$5, +2.4%)
📈 Total Crypto Market Cap: $2.63T (+0.2%)
🧐 The Houston firefighter’s pension fund was revealed to have invested $25 million in Bitcoin and Ethereum, in what is perhaps the first reported instance of a US pension fund investing in cryptocurrencies. While only a fraction of the fund’s overall holdings, pension funds tend to be conservative in their investment strategy.
🇿🇦 On the other side of the world, draft rules from South African legislators show that South African pension funds will likely be banned from investing in cryptocurrencies down from the limit of 2.5% of the fund’s holdings. This puts South Africa in direct contrast with developments over in the USA, and may bear watching in the coming quarters.
🔎 Bitcoin futures funding rates are declining, suggesting lower leverage for Bitcoin at its current price. Highly leveraged market conditions in the past year have preceded massive sell-offs thanks to cascading long liquidations, and the recent lower funding rates are likely a good sign of the health of Bitcoin at current prices.
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 Autochartist 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.