Bitget Bites (September 13, 2022)

The global market cap is standing at US$1.060 Trillion, showing a 0.54% increase from yesterday and the 24-hour volume was up by 20.80% to US$89.51 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$21,695.70 and US$22,439.18 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$22,342.28, which is a 0.51% decrease compared to Ethereum’s 0.18% decrease.

There has also been a significant increase (+47.74%) in the volume of our spot market. There has been a decrease in the volume and price of altcoins over the past 24 hours, with few altcoins trading above the volume of US$1 billion, in order of market cap and volume we have BNB (-0.25%), XRP (+0.97%), and ADA (-1.36%).

The highest price and lowest price levels of BGB in the last 24 hours were US$0.17346 and US$0.16835 , respectively.

The Top 3 Gainers of The Day are Crypto Stake Token (CST), Caduceus (CMP), and Terra (LUNA).

1st Place

CSTUSDT: Up by 8.31%

Crypto Stake eco system is a decentralized gambling platform giving players all over the world an opportunity to place bets on sports, book events from every corner of the globe. With a 24-hour trading volume of US$44,291.24, touching a high of US$0.00579 and a low of US$0.00411 in the past 24 hours, CST is trading at a current market price of US$0.00458.

2nd Place

CMPUSDT: Up by 7.46%

Caduceus is the first metaverse protocol with decentralized edge rendering, dedicated to providing the critical infrastructure layer of metaverse development. With a 24-hour trading volume of US$16,109.81, touching a high of US$0.210000 and a low of US$0.182633 in the past 24 hours, CMP is trading at a current market price of US$0.200510.

3rd Place

LUNAUSDT: Up by 6.29%

Terra seeks to continue without its algorithmic stablecoin UST and aims to preserve the Terra ecosystem with hundreds of developers working on different decentralized applications. With a current market cap of US$540,746,554.14 and a 24-hour trading volume of US$991,009.24, touching a high of US$5.3522 and a low of US$3.8058 in the past 24 hours, LUNA is trading at a current market price of US$4.3532.

Meanwhile, the Top 2 Losers include: NXDUSDT (-27.12%), LUNAUSDC (-25.96%).

Futures Market Updates

Activities on Futures markets continue to cool off, with the Open Interests (OI) of all cryptocurrencies now recorded at US$4.61 billion, equivalent to a 14.15% decrease. However, the aggregated futures volume saw an increase of 9.25% to US$319 billion from yesterday.

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance remained at 68% of the total OI, now standing at US$3.15 billion, which is a 14.17% decrease from yesterday. The daily volume of Bitcoin contracts increased by 7.10% to US$174,503.50. The last cycle of funding rate (-0.0086%) demonstrates a mild buy signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, bullish at 59.55%/40.45%. Most BTC long ETFs also locked in a price increase yesterday, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$33.65 from the opening price of US$33.81.

Interesting Topics

Trading 101: Macroeconomic Factors That Can Affect Crypto Prices

Social Trading Around The Globe

Post-Merge: 5 Facts You Need to Know

Trending Events

Bitget Lists Bitcicoin (BITCI) in Innovation Zone - 1,200,000 BITCI Prizes to be Won!

Earn US$100 and enjoy zero spot trading fees when you become a Bitget merchant!

Follow Us For More Insights: Twitter | Telegram | LinkedIn | Facebook | Instagram