Market updates

Bitget Bites (October 3, 2022)

Beginner

2022-10-03 | 5m

The global market cap is standing at US$927.25 billion, showing a -0.92% decrease from yesterday but the 24-hour volume went up by 25.39% to US$45.51 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$19379.58 and US$18922.64 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$19,080.43 which is a 0.71% decrease compared to Ethereum’s 1.38% decrease.

There has also been a significant increase (+10.08%) 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 XRP (-5.67%) being the only altcoin in the Top 10 trading above the volume of US$1 billion.

The highest price and lowest price levels of BGB in the last 24 hours were US$0.18650 and US$0.18410 respectively.

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The Top 3 Gainers of The Day are Guild of Guardians (GOG), Xana Metaverse (XETA), and Linear Finance (LINA):

1st Place

GOGUSDT: Up by 10.44%

Guild of Guardians is a fantasy-themed mobile RPG that allows players to create, collect and own digitised in-game items and heroes. A pre-alpha demo of the game was released in March 2022, earning several positive reviews, and the team plans to release an alpha testnet by the end of 2022 before the full mainnet launch in H2 2023. GOG is trading at a current market price of US$0.2367, having touched a high of US$0.2545 and a low of US$0.2124 in the past 24 hours.

2nd Place

XETAUSDT: Up by 9.82%

Living up to its name, XANA Metaverse provides a blockchain infrastructure specifically designed to meet the needs of the NFT Gaming industry. Users who are interested can already install the public alpha test app and enjoy free customisation. XETA is trading at a current market price of 0.081650, having touched a high of US$0.084242 and a low of US$0.071242 in the past 24 hours.

3rd Place

LINAUSDT: Up by 8.82%

Linear Finance’s mission is to give users access to both digital and traditional assets, from cryptocurrencies, and commodities to thematic indexes, via their cross-chain compatible protocol. RSS3 is trading at a current market price of US$0.008064, having touched a high of US$0.008440 and a low of US$0.007093 in the past 24 hours.

Meanwhile, the Top 3 Losers include: SANTOSUSDT (-12.41%), MENGOUSDT (-10.91%) and MSHITUSDT (-10.57%).

Futures Market Updates

Activities on Futures markets are increasing slightly, with the Open Interest (OI) of all cryptocurrencies now recorded at US$4.83 billion, equivalent to a 0.63% 24-hour increase. The aggregated futures volume also saw an increase of 44.44% to US$312 billion from yesterday.

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Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance accounts for 68% of the total OI, now standing at US$3.28 billion, which is a 0.61% increase from yesterday. The daily volume of Bitcoin contracts increased by 36.72% to US$147,886.10. The last cycle of funding rate (+0.0100%) demonstrates a neutral signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, leaning towards the bulls at 51.14%/48.86%. Most BTC long ETFs also locked in a price increase on Friday, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$38.27 from the opening price of US$38.73.