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Bitget Bites (September 1, 2022)

Bitget Bites (September 1, 2022)

The global market cap is standing at US$979.65 billion, showing a 1.66% decrease from yesterday and the 24-hour volume was down by 10.60% to US$67.47 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$19,882.86 and US$20,484.03 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$20,192.18, which is a 0.24% increase compared to Ethereum’s 0.34% increase.

There has also been a decrease (-15.60%) 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 (-3.56%), XRP (-1.74%), and ADA (-2.66%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.15748 and US$0.15322, respectively.

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The Top 3 Gainers of The Day are SafePal (SFP), S.S. Lazio Fan Token (LAZIO), and TerraClassicUSD (USTC).

1st Place

SFPUSDT: Up by 13.95%

SafePal offers both hardware and software wallets, which are paired and managed via the SafePal App. In addition to popular tokens on the Ethereum, Binance Smart Chain (BSC), and TRON blockchains, the SafePal wallet supports a wide range of popular crypto-assets. According to SafePal, users can store, manage, swap, trade, and grow their portfolio without jeopardizing asset security. With a current market cap of US$43,215,298.58 and 24 hour trading volume of US$226,993.16, touching a high of US$0.4626 and a low of US$0.3846 in the past 24 hours, SFP is trading at a current market price of US$0.3980.

2nd Place

LAZIOUSDT: Up by 12.41%

Lazio Fan Token follows the model of other football clubs' fan tokens. It represents the ownership of a voting right and allows fans to earn exclusive club-specific rewards and experiences. One example would be when fans have a say in specific decisions, such as the message on their captain's armband. Fans will also have the opportunity to win exclusive access to the club. For example, they can visit the stadium's player area or be granted access to the VIP zone to watch a match and receive discounts on club merchandise. With a current market cap of US$67,540,403.42 and a 24-hour trading volume of US$150,063.83, touching a high of US$9.1325 and a low of US$6.1424 in the past 24 hours, LAZIO is trading at a current market price of US$7.8706.

3rd Place

USTCUSDT: Up by 5.20%

TerraUSD (UST) is the Terra blockchain's decentralized and algorithmic stablecoin. With a current market cap of US$309,362,248.84 and a 24 hour trading volume of US$123,813.09, touching a high of US$0.032879 and a low of US$0.025322 in the past 24 hours, USTC is trading at a current market price of US$0.031573.

Meanwhile, the Top 3 Losers include: FIOUSDT (-47.02%), FTSYUSDT (-39.27%) and MITUSDT (-31.44%).

Futures Market Updates

Activities on Futures markets continued to cool off with the Open Interests (OI) of all cryptocurrencies now recorded at US$3.85 billion, equivalent to a 7.89% decrease from yesterday. The aggregated futures volume also saw a decrease of 6.25% to US$180 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 70% of the total OI, now standing at US$2.69 billion, an 8.50% decrease from the previous day. The daily volume of Bitcoin contracts decreased by 20.46% to US$193,712.00. The last cycle of funding rate (+0.0100%) demonstrates a neutral signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, leaning towards bearish at 49.02%/50.98%. Most BTC long ETFs locked in a price decrease yesterday, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$38.34 from the opening price of US$38.13.

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