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Bitget Bites (August 24, 2022)

Bitget Bites (August 24, 2022)

The global market cap is standing at US$1.019 trillion, showing a 0.52% decrease from yesterday and the 24-hour volume was down by 0.11% to US$70.66 billion. Our report on activities of the Spot Market and Futures Market are below:


Spot Market Updates

Bitcoin has been trading between US$20,955.14 and US$21,646.20 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$21,281.79, which is a 0.09% decrease compared to Ethereum’s 0.04% decrease.


There has also been a significant increase (+7.75%) in the volume of our spot market. There has been a slight 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 (-0.66%), XRP (+0.13%), and ADA (-0.22%).


The highest price and lowest price levels of BGB in the last 24 hours were US$0.16295 and US$0.15650, respectively.


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The Top 3 Gainers of The Day are USD Sports (USDSP), Nexus Dubai (NXD), and Land Of Conquest (SLG). 


1st Place

USDSPUSDT: Up by 20.99%

USD Sports is a utility token created as an exclusive currency to operate on the USD Sports platform, our proprietary Exchange for trading sports tokens. USD Sports is developed using PoS (Proof of Stake) technology, one of the most significant elements of contemporary blockchain architecture. This technology provides not only efficiency and energy savings, it is also profitable for all those who collaborate with the network. With a trading volume of US$338,807$33,561, USDSP is trading at a current marke t price of $0.107586.


2nd Place

NXDUSDT: Up by 16.47%

Nexus is mainly in Dubai and Abu Dhabi. Stores can also become members without having to spend a large amount of money to install the system as is usually the case.

Payment can be made easily at a wide range of places including large shopping malls, supermarkets, food deliveries, hotels, etc. Since incentives are provided, it is possible to enclose inbound commercial areas. The payment application will be updated to display store locations and recommended products to show that there are more attractive participating stores and improve the settlement rate. With a current market cap of $153,074,959.68 and a 24-hour trading volume of US$3,221,753$2,169,839.10, NXD is trading at a current market price of US$0.12070003726. 


3rd Place

SLGUSDT: Up by 7.75%

SLG is the governance token of the Land Of Conquest game. The total amount of SLG issued is 1 billion, and the initial value is set to 0.03 USDT, which is a deflationary currency. There will be a very small amount of placement in the operation activity game. SLG is divided into two types: in-game and on-chain. Players can exchange XTAL to get SLG inGame in the game, and then extract SLG In Game to SLG on the chain, and then play through the Pancake liquidity pool, or trade on crypto exchanges likethe Bitgetexchange. With a trading volume of US$877,347 $4,394,716.38, SLG is trading at a current market price of $0.02425. 


Meanwhile, the Top 2 Losers include:STCUSDT (-35.66%) and WNXMUSDT (-25.33%).


Futures Market Updates

Activities on Futures markets are slightly expanding with the Open Interests (OI) of all cryptocurrencies now recorded at US$4.47 billion, equivalent to a 3.04% decrease from yesterday. The aggregated futures volume, however, saw an upsurge of 21.36% to US$250 billion in the last 24 hours.


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Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance increased slightly to 68% of the total OI, now standing at US$3.05 billion. The daily volume of Bitcoin contracts rose by 7.40% to US$213,019.50. The last cycle of funding rate (-0.0100%) demonstrates a potential buy signal.


Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, quite bullish at 66.25%/33.75%. Most BTC long ETFs locked in a small price increase, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$35.97 from the opening price of US$36.20.

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