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Bitget Bites (August 26, 2022)

Bitget Bites (August 26, 2022)

The global market cap is standing at US$1.041 trillion, showing a 0.43% increase from yesterday but the 24-hour volume was down by 2.02% to US$64.01 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$21,459.98 and US$21,783.08 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$21,532.59, which is a 0.16% increase compared to Ethereum’s 0.61% increase.

There has also been a decrease (-1.07%) in the volume of our spot market. There has been a slight increase 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 (+0.69%), XRP (+0.55%), and ADA (+1.70%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.16896 and US$0.16156, respectively.

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The Top 3 Gainers of The Day are Voyager Token (VGX), Terraclassic (LUNC), and Chromia (CHR).

1st Place

VGXUSDT: Up by 48.73%

Voyager Token is a cryptocurrency broker that provides investors with a trusted and secure access point to crypto asset trading. Voyager is built to serve both retail and institutional investors with a nigh-instant solution for trading crypto assets. With a current market cap of $106,252,492.27 and 24 hour trading volume of US$280,954.71, touching a low of US$0.2665 and a high of US$0.4490 in the past 24 hours, VGX is trading at a current market price of $0.3749.

2nd Place

LUNCUSDT: Up by 20.05%

Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements. With a current market cap of $829,835,213.54 and a 24-hour trading volume of US$452,532.88, touching a low of US$0.000100401 and a high of US$0.000136925 in the past 24 hours, LUNC is trading at a current market price of US$0.000126507.

3rd Place

CHRUSDT: Up by 11.82%

Chromia is an open source public blockchain conceived of by Swedish company Chromaway AB. The Chroma token (CHR) was launched in May of 2019. The technology behind the Chromia blockchain is adapted from an earlier technology called ‘Postchain’, a solution provided by Chromaway AB for enterprise clients. With a current market cap of $108,011,009.48 and a 24 hour trading volume of US$387,678.12, touching a low of US$0.17097 and a high of US$0.19730 in the past 24 hours, CHR is trading at a current market price of $0.19191.

Meanwhile, the Top 3 Losers include: NXDUSDT (-30.07%), ZBCUSDT (-24.83%) and TUSDT">NPTUSDT (-21.05%).

Futures Market Updates

Activities on Futures markets are slightly expanding with the Open Interests (OI) of all cryptocurrencies now recorded at US$4.56 billion, equivalent to a 0.44% increase from yesterday. The aggregated futures volume also saw a slight increase of 167.06% to US$673 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 remained at 68% of the total OI, now standing at US$3.10 billion. The daily volume of Bitcoin contracts declined by 10.18% to US$160,585.70. The last cycle of funding rate (-0.0100%) demonstrates a potential mild buy signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, bearish at 44.76%/55.24%. 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$35.70 from the opening price of US$36.20.

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