Bitget Bites (September 22, 2022)

The global market cap is standing at US$908.82 billion, showing a 1.95% decrease from yesterday but the 24-hour volume went up by 34.66% to US$91.30 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$18,290.32 and US$19,674.63 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$18,704.65, which is a 1.37% decrease compared to Ethereum’s 5.46% decrease .

There has also been an increase of (+44.41%) in the volume of our spot market. There has been a slight increase in the volume and price of altcoins over the past 24 hours, with altcoins trading above the volume of US$1 billion, in order of market cap and volume we have BNB (-0.49%), XRP (+3.51%) and ADA (-1.73%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.1716 and US$0.1625, respectively.

The Top 3 Gainers of The Day are OpenBlox Token (OBX), Alpine F1 Team Fan (ALPINE) and Helium Token (HNT)

1st Place

OBXUSDT: Up by 27.55%

OpenBlox is building 3 games and various Web3 lifestyle apps that will be accessible to users. The first app, RunBlox, is currently in community testing and will soon be released to the broader public. With a 24-hour trading volume of US$78,711.29 touching a high of US$0.008720 and a low of US$0.005863 in the past 24 hours, OBX is trading at a current market price of US$0.008181.

2nd Place

ALPINEUSDT: Up by 9.86%

Alpine F1 Team Fan Token (ALPINE) is the first Formula One-themed fan token by Binance — the world's biggest and most popular cryptocurrency exchange. After Binance released its first fan token in LAZIO, the ALPINE token will give fans of the Alpine F1 Team a chance to engage with the racing brand. With a 24-hour trading volume of US$66,406.95 touching a high of US$3.6502 and a low of US$3.2375 in the past 24 hours, ALPINE is trading at a current market price of US$3.5865.

3rd Place

HNTUSDT: Up by 8.41%

Helium (HNT) is a decentralised blockchain-powered network for Internet of Things (IoT) devices. With a 24-hour trading volume of US$74,710.68, touching a high of US$4.904 and a low of US$4.308 in the past 24 hours, HNT is trading at a current market price of US$4.791.

Meanwhile, the Top 2 Losers include: JNSUSDT(-26.30%) and PRIMEUSDT(-24.14%).

Futures Market Updates

Activities on Futures markets are cooling off, with the Open Interest (OI) of all cryptocurrencies now recorded at US$4.11 billion, equivalent to a 13.29% decrease. However, the aggregated futures volume saw an increase of 29.17% to US$217 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$2.78 billion, which is a 13.93% decrease from yesterday. The daily volume of Bitcoin contracts increased by 48.84% to US$320,210.80. The last cycle of funding rate (+0.0100%) demonstrates a neutral signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, extremely bearish at 38.18%/61.82%. Most BTC long ETFs also locked in a price decrease yesterday, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$38.78 from the opening price of US$39.40.

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