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Bitget Bites (July 15, 2022)

Bitget Bites (July 15, 2022)

The global market cap is standing at US$931.28B, showing a 3.22% increase from yesterday but the 24-hour volume was down by 2.10% to US$72.20B. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$19,689.26 and US$20,789.89 within the last 24 hours. As of 3:30 AM UTC, BTC price is standing at US$20,632.28, which is a 2.01% increase compared to Ethereum’s 7.74% increase.

There has been an increase in the volume and price of altcoins over the past 24Hr, with so many altcoins trading above US$1B, in order of hierarchy we have XRP (+6.50%), ADA (+2.03%), and SOL (+7.38%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.14699 and US$0.14540 , respectively.

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The Top 3 Gainers of The Day are Quickswap (QUICK), Fantasy token (FTSY) and dydx (DYDX).

1st Place

QUICKUSDT: Up by 88.03%

QUICK is an Ethereum token that powers QuickSwap, a decentralized exchange that runs on the Polygon Network in order to provide faster and cheaper transactions on Ethereum. QUICK can be used to create and vote on proposals governing QuickSwap and can be staked to earn a portion of trading fees. With a current market cap of $35,094,055.53 and trading volume of $86,884,326.70, QUICK is trading at a current market price of $102.91.

2nd place

FTSYUSDT: Up by 32.45%

FANTASY allows community participants to directly interact with each other through P2P on the FANTASY platform. This will allow users to directly trade services and products without the need for intermediaries that exist in traditional markets. With a current market cap of $2,099,086.26 and a trading volume of $1,614,932.16, FANTASY is trading at a current market price of $0.007097.

3rd Place

DYDXUSDT: Up by 20.41%

DYDX (dYdX) is the governance token for the layer 2 protocol of the eponymous non-custodial decentralized cryptocurrency exchange. It serves to facilitate the operation of layer 2 and allows traders, liquidity providers and partners to contribute to the definition of the protocol's future as a community. With a current market cap of $140,016,874.78 and a trading volume of $147,724,231.34, DYDX is trading at a current market price of $2.16.

Meanwhile, the Top 3 Losers include: VGX (-42.56%), USDSP (-23.98%) and LUNR (-23.83%).

Futures Market Updates

The tides are changing in the Futures market. Today’s Open Interests (OI) of all cryptocurrencies are recorded at US$3.3B, which is equivalent to a 3.77% increase from yesterday and the 24-hours aggregated volume of all contracts at US$68B (-9.19%).

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Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI accounted for two-thirds of the total OI at US$2.23B while the daily volume of Bitcoin contracts only stood at US$314,389.10. The last cycle of funding rate (-0.0100%) demonstrates a buy signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now clearly leaning towards bullish at 51.12%/48.88%. Most Bitcoin ETFs saw a positive 1-day change, except the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which ended the day at US$41.24 compared to the opening price of US$42.58. We can see that institutional and retail investors are torn again between bullish and bearish.

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