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Cardano rises, while Bitcoin and Ether trade lower

By Mensholong Lepcha

04:44, 10 November 2021

Cardano logo
Cardano logo – Photo: Shutterstock

Cardano was the only top 10 non-stable coin trading in the green on Wednesday as Bitcoin and Ether slipped after hitting all-time highs a day earlier.

Blockchain platform Cardano’s ADA token rose over 3% to $2.23 in early Asia trade on Wednesday, taking its seven-day gains to over 13%.

Cardano’s ADA token, which has a supply cap similar to bitcoin, remained over 28% away from its record high of $3.09 hit in early September, according to CoinGecko.

Bitcoin and Ether down

There is a maximum supply limit of 45 billion ADA tokens compared to Bitcoin’s hard cap of 21 million.

On Wednesday, Bitcoin traded 2.7% lower at $66,438.97. The number one cryptocurrency hit a record high of $68,641.57 a day earlier. Ether was down 2.3% at $4,699.60.

Meanwhile, Apple chief executive Tim Cook said at the DealBook conference that he owned cryptocurrency and added that Bitcoin was something he is “interested in”.

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0.43320
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DOGE/USD

0.11 Price
+0.990% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

ETH/USD

3,199.58 Price
+1.070% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

BTC/USD

60,129.60 Price
+2.560% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

XRP/USD

0.54 Price
-1.820% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

Litecoin up

Elsewhere, Litecoin jumped over 4%, after theatre chain AMC Entertainment chief executive Adam Aron said the company was on track to accept cryptocurrencies for AMC gift card purchases by the end of the year.

“As you know, you can now purchase AMC gift cards using cryptocurrency, and our IT group is writing code so that soon we can accept online payments in Bitcoin, Ethereum, Litecoin and Dogecoin among others,” Aron had tweeted on 29 October.

Aron had also conducted a poll on Twitter, whether AMC should accept Shiba Inu for gift card payments next.

Meme coins Shiba Inu and Dogecoin down over 4% in early Asia trade on Wednesday.

Read more : Exclusive: This CEO is calling the SEC’s bluff on crypto

Markets in this article

BTC/USD
Bitcoin / USD
60129.60 USD
1502.3 +2.560%
ADA/USD
Cardano / USD
0.43320 USD
-0.00627 -1.440%
ADA/USD
Cardano / USD
0.43320 USD
-0.00627 -1.440%
DOGE/USD
DogeCoin / USD
0.1134219 USD
0.0011093 +0.990%
ETH/USD
Ethereum / USD
3199.58 USD
33.72 +1.070%

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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