What is the meaning of 'market on close' in the context of cryptocurrency trading?

3 answers

• Dec 17, 2021 · 3 years ago
  Market on close (MOC) is a type of order that allows traders to buy or sell a specific cryptocurrency at the closing price of the trading day. It is commonly used by investors who want to execute trades at the end of the trading session. MOC orders are typically placed shortly before the market closes and are executed at the closing price or as close to it as possible. This type of order can be useful for traders who want to take advantage of any price movements that may occur during the closing auction. However, it's important to note that MOC orders may not always be filled at the exact closing price due to market volatility.
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• Dec 17, 2021 · 3 years ago
  So, 'market on close' basically means that you're placing an order to buy or sell a cryptocurrency at the closing price of the trading day. It's like saying, 'Hey, I want to buy/sell this cryptocurrency, but I want to do it at the end of the day when the market is about to close.' This can be a strategic move for traders who believe that the closing price will be favorable for their trade. However, keep in mind that the actual execution of the order may not happen exactly at the closing price due to market fluctuations.
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• Dec 17, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, offers the option to place market on close orders. With a market on close order, traders can take advantage of the closing price of a cryptocurrency to execute their trades. This type of order can be particularly useful for traders who want to capture any potential price movements that may occur during the closing auction. However, it's important to note that the execution of market on close orders may not always happen at the exact closing price due to market volatility. Traders should carefully consider their trading strategies and risk tolerance before using market on close orders.
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