Market updates

Bitget Bites (September 23, 2022)

Beginner

2022-09-23 | 5m

The global market cap is standing at US$949.45 billion, showing a 4.47% increase from yesterday but the 24-hour volume went down by 16.96% to US$75.81 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$18,650.00 and US$19,499.00 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$19,383.00, which is a 4.05% increase compared to Ethereum’s 6.92% increase.

There has also been an increase (+85.71%) in the volume of our spot market. There has been a significant 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 XRP (+29.98%), ADA (+5.99%) and BNB (+4.35%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.1811 and US$0.1655 respectively.

Bitget Bites (September 23, 2022) image 0

The Top 3 Gainers of The Day are SANTOS FC fan Token (SANTOS), SKEB token(SKEB) and XRP Token (XRP)

1st Place

SANTOSUSDT: Up by 14.80%

Santos FC Fan Token (SANTOS) is a fan token of the eponymous football team that was launched by a partnership between Santos FC and Binance Launchpool. With a 24-hour trading volume of US$154,729.99 touching a high of US$15.6881 and a low of US$12.1502 in the past 24 hours, SANTOS is trading at a current market price of US$14.4288.

2nd Place

SKEBUSDT: Up by 11.44%

Skeb Coin is the native token of the Skeb ecosystem. Its economy includes transaction fees, staking, locks, liquidity incentives, buy backs, burns, and a DAO treasury. These are powered by fees in the Skeb ecosystem. With a 24-hour trading volume of US$65,453.43 touching a high of US$0.007682 and a low of US$0.006175 in the past 24 hours, SKEB is trading at a current market price of US$0.007649.

3rd Place

XRPUSDT: Up by 11.12%

XRP Token (XRP) is an open-source, permissionless and decentralised technology. With a 24-hour trading volume of US$124,593,709.63, touching a high of US$0.55188 and a low of US$0.41558 in the past 24 hours, XRP is trading at a current market price of US$0.54757.

Meanwhile, the Top 3 Losers include: XMONUSDT(-15.39%), LUSDT">EULUSDT(-12.46%) and SWEATUSDT(-10.45%)

Futures Market Updates

Activities on Futures markets are expanding, with the Open Interest (OI) of all cryptocurrencies now recorded at US$4.36 billion, equivalent to a 6.08% increase. However, the aggregated futures volume saw a decrease of 14.75% to US$185 billion from yesterday.

Bitget Bites (September 23, 2022) image 1

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$2.95 billion, which is a 6.12% increase from yesterday. The daily volume of Bitcoin contracts decreased by 31.69% to US$218,721.30. The last cycle of funding rate (+0.0150%) demonstrates a potential buy signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, torn at 50.46%/49.54%. 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$38.72 from the opening price of US$39.21.

Interesting Topics

5 Reasons why Derivatives are the key for crypto adoption

Top Analysis Tools for the Decentralized Finance (DeFi) Investors

Understanding Finance: Capitalizing on Volatility

Trade to Win 500,000 SHIB Rewards. Zero Spot Trading Fee!

Bitget Launchpool is LIVE: Share 200,000 BGB in a MEGA Prize Pool, Prizes Every Hour!

Understanding the Crypto Spot Market (Part 1)Funding: Why Trading Crypto is Revolutionary