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Bitget Bites (August 19, 2022)

Bitget Bites (August 19, 2022)

The global market cap is standing at US$1.084 trillion, showing a 3.25% decrease from yesterday and the 24-hour volume was down by 10.15% to US$64.94 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$22,752.89 and US$23,563.83 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$22,822.79, which is a 2.68% decrease compared to Ethereum’s 1.53% decrease.

There has also been a decrease (-4.35%) in the volume of our spot market. 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$1 billion, in order of market cap and volume we have BNB (-4.86%), XRP (-3.01%), and ADA (-7.81%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.16440 and US$0.15960, respectively.

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The Top 3 Gainers of The Day are beFITTER (FIU), TerraclassicUsd (USTC), and XDC NETWORK (XDC).

1st Place

FIUUSDT: Up by 48.48%

beFITTER is a web3 fitnessfi and socialfi app that aims to make a healthy lifestyle irresistible. beFITTER follows the move to earn trend but in a sustainable direction. beFITTER’s aspiration is not to encourage users to run and earn continuously like a circle of boredom. beFITTER’s most important goal is to create a healthy and balanced ecosystem that enhances physical health through proper exercise and rest regimens. Almost all users' daily activities are counted and rewarded, even sleeping. With a current market cap of $1,737,637.82 and a trading volume of $2,509,404.95, FIU is trading at a current market price of $0.03556.

2nd Place

USTCUSDT: Up by 9.09%

TerraUSD (UST) is the decentralized and algorithmic stablecoin of the Terra blockchain. It is a scalable, yield-bearing coin that is value-pegged to the US Dollar. TerraUSD was created to deliver value to the Terra community and offer a scalable solution for DeFi amid severe scalability problems faced by other stablecoin leaders like Dai. Thus, TerraUSD promises users a higher level of scalability, interest rate accuracy, and interchain usage. With a current market cap of $250,566,066.44 and a trading volume of $21,861,006.84, USTC is trading at a current market price of $0.0252.

3rd Place

XDCUSDT: Up by 5.25%

The XDC Network (formerly called XinFin Network) is an enterprise-grade, EVM-compatible blockchain equipped with interoperable smart contracts. A highly optimized, bespoke fork of Ethereum, the XDC Network reaches consensus through a delegated proof-of-stake (dPoS) mechanism, which allows for two-second transaction time, near zero gas fees, and over 2,000 transactions per second (TPS). With a current market cap of $406,915,891.89 and trading volume of $3,743,112.70, XDC is trading at a current market price of $0.03294.

Meanwhile, the Top 3 Losers include:CMPUSDT (-18.85%), MOONEYUSDT (-17.42%), and AFKUSDT (-16.44%).

Futures Market Updates

Activities on Futures markets continued its way down with the Open Interests (OI) of all cryptocurrencies now recorded at US$4.33 billion, equivalent to a 1.81% decline 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 remained at 67% of the total OI at US$2.88B but the daily volume of Bitcoin contracts decreased by 14.94% to US$170,709.20. The last cycle of funding rate (+0.0100%) demonstrates a neutral signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, currently bullish at 57.66%/42.34%. Most BTC long ETFs locked in a price decrease, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$33.48 from the opening price of US$33.24.

Interesting Topics

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How to Build a Well-Balanced Crypto Portfolio

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