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Bitget Bites (July 22, 2022)

Bitget Bites (July 22, 2022)

The global market cap is standing at US$1.045T, showing a 2.45% increase from yesterday and the 24-hour volume was down by 22.74% to US$74.05B. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$22,431.15 and US$23,309.96 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$23,106.29, which is a 0.49% increase compared to Ethereum’s 5.94% increase.

There has been a slight increase in the volume and price of altcoins over the past 24 hours, with so many altcoins trading below the volume of US$1B, in order of hierarchy we have XRP (+1.24%%), ADA (+1.71%), and SOL (+4.32%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.15400 and US$0.15101, respectively.

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The Top 3 Gainers of The Day are Open Blox (OBX), Fantasy Token (FTSY) and Cult DAO (CULT).

1st Place

OBXUSDT: Up by 29.11%

Blox is unlike characters in traditional games truly yours. All Blox exist as Non-Fungible Tokens (NFTs) on blockchain empowering you to freely trade them with other players, and move them across NFT marketplaces such as OpenSea. OpenBlox is EVM-based, and therefore compatible with all chains supporting EVM. With a current trading volume of $1,813,451.54, OBX is trading at a current market price of $0.01243.

2nd place

FTSYUSDT: Up by 25.00%

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 $1,950,724.00 and trading volume of $338,411.80, FTSY is trading at a current market price of $0.006503.

3rd Place

CULTUSDT: Up by 18.44%

Cult DAO is a blockchain-based DAO aiming to accelerate the decentralized finance revolution. Its goal is to empower people with the necessary tools to "break away from societal, economic and other norms." To this end, its users can actively vote on funding for projects focusing on decentralized applications. With a current market cap of $82,837,396.32 and trading volume of $16,749,787.58, CULT is trading at a current market price of $0.00001929.

Meanwhile, the Top 3 Losers include: ONITUSDT (-55.66%), SHITUSDC (-36.61%) SHITUSDT (-33.00).

Futures Market Updates

The Open Interests (OI) of all cryptocurrencies is going up again, now recorded at US$3.63 billion, which is equivalent to a 14.59% decrease from yesterday and the 24-hours aggregated volume of all contracts at US$125 billion (-69.21%).

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Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market. Bitcoin OI to the total OI ratio has, however, plunged to 56% from 76%, while the daily volume of Bitcoin contracts further declined to US$227,193.80. 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 showing bearish signs at 54.65%/45.35%. All Bitcoin ETFs also saw a huge decline in trading volume, even the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which ended the day at US$34.35 compared to the opening price of US$35.18.

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