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Bitget Bites (August 1, 2022)

Bitget Bites (August 1, 2022)

The global market cap is standing at US$1.087T, showing a 0.91% decrease from yesterday and the 24-hour volume was UP by 5.63% to US$71.82B. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$23,275.70 and US$24,121.64 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$23,351.67, which is a 1.70% decrease compared to Ethereum’s 0.79% decrease.

There has been a decrease in the volume and price of altcoins over the past 24 hours, with some altcoins trading above the volume of US$1B, in order of market cap and volume we have XRP (-1.93%), ADA (-2.15%), and SOL (-2.85%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.15268 and US$0.15014 , respectively.

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The Top 3 Gainers of The Day are Filecoin (FIL), Terra (LUNA) and Dao maker (DAO).

1st Place

FILUSDT: Up by 13.39%

Filecoin (FIL) is a cryptocurrency that powers the Filecoin network, a decentralized peer-to-peer file storage network that aims to let anyone store, retrieve, and host digital information. FIL tokens are used as payment for these services and as an economic incentive to ensure files are stored reliably over time. With a current market cap of $2,544,102,596.98 and trading volume of $2,127,764,361.88, FIL is trading at a current market price of $10.32.

2nd place

LUNAUSDT: Up by 13.00%

Terra's native token, LUNA, is used to stabilize the price of the protocol's stablecoins. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token.With a current market cap of $299,956,041.33 and trading volume of $266,537,553.08, LUNA is trading at a current market price of $2.34.

3rd Place

DAOUSDT: Up by 10.49%

The DAO Maker token (DAO) is the governance token of the DAO Maker ecosystem, which is built on the Ethereum blockchain and allows holders to exercise control over the ecosystem.With a current market cap of $105,310,214.59 and trading volume of $1,141,875.23, DAO is trading at a current market price of $1.48.

Meanwhile, the Top 3 Losers include: KNO TUSDT (-14.66%), CUBENETWORKUSDT (-14.21%), OGVUSDT (-12.65%)

Futures Market Updates

Activities on Futures markets cooled off slightly, with the Open Interests (OI) of all cryptocurrencies now recorded at US$4.05B, equivalent to a 4.71% decrease from yesterday. The 24-hours aggregated volume of all contracts is standing at US$280B (-11.11%).

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Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI accounted for 65% of the total OI at US$2.62B while the daily volume of Bitcoin contracts only stood at US$140,774.90. The last cycle of funding rate (+0.0100%) demonstrates a neutral signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now leaning towards bullish at 53.17%/46.83%. Friday was green for most Bitcoin ETFs, except the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which ended the day at US$32.84 compared to the opening price of US$33.23.

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