📈 BTC | $59,162 (+1,113, +1.9%)
📈 ETH | $2,127 (+59, +2.9%)
📈 XRP | $0.8906 (+0.2739, +43.8%)
📈 LTC | $222 (+19, +9.6%)
Crypto market cap briefly topped $2 trillion for the first time early today. More remarkably, market cap excluding Bitcoin has surged from $225B on 1st Jan 2021, to $870B today – a +390% increase.
XRP rose +50% overnight, likely triggered by the Ripple CEO publicly stating that they could do without XRP in their products if they lost their ongoing SEC lawsuit. Ripple still owns over half of all XRP (around 50B tokens) however, with their CEO publicly admitting to the Financial Times in March that the company would not be profitable without regular sales of their massive hoard of XRP tokens.
South Korean crypto markets are experiencing red-hot demand even as regulators make it harder to buy cryptocurrencies, with Koreans now paying up to a 10% premium for Bitcoin (Translated: 1 BTC = around $59K + $5.9K premium), in what is known as the Kimchi Premium. The Kimchi Premium hit a high of nearly 55% in Jan 2018 at the height of the crypto market back then.
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 allow 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.
Benefits of using Phillip MT5:
Trade at zero commission on 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.