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Bitget Bites (September 9, 2022)

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2022-09-09
Bitget Bites (September 9, 2022)

The global market cap is standing at US$993.98 billion, showing a +1.85% increase from yesterday and the 24-hour volume was up by 5.27% to US$73.43 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$19,076.71 and US$20,603.10 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$20,603.10, which is a 6.23% increase compared to Ethereum’s 4.45% increase.

There has also been an increase (+2.64%) in the volume of our spot market. There has been an increase in the volume and price of altcoin over the past 24 hours, with few altcoins trading above the volume of US$1 billion, in order of market cap and volume we have BNB (+3.89%), XRP (+4.59%), and ADA (+3.68%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.17949 and US$0.16979 , respectively.

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The Top 3 Gainers of The Day are Volt Inu V2 (VOLT), Arweave (AR), and Crypto Stake Token (CST).

1st Place

VOLTUSDT: Up by 13.93%

Volt Inu (VOLT) is a highly deflationary token on the Ethereum blockchain that keeps growing through the use of true deflationary techniques and additional revenue generation. With a market cap of US$77,889,731.93 and a 24-hour trading volume of US$142,152.40, touching a high of US$0.0000011184 and a low of US$0.0000008383 in the past 24 hours, VOLT is trading at a current market price of US$0.0000010611.

2nd Place

ARUSDT: Up by 6.56%

Arweave is a decentralized storage network that seeks to offer a platform for the indefinite storage of data. With a market cap of US$371,773,385.64 and a 24-hour trading volume of US$252,220.43, touching a high of US$11.305 and a low of US$9.522 in the past 24 hours, AR is trading at a current market price of US$11.125.

3rd Place

CSTUSDT: Up by 6.04%

Crypto Stake eco system is a decentralised gambling platform giving players all over the world an opportunity to place bets on sports, book events from every corner of the globe. With a 24-hour trading volume of US$33,253.05, touching a high of US$0.00616 and a low of US$0.00400 in the past 24 hours, CST is trading at a current market price of US$0.00495.

Meanwhile, the Top 3 Losers include: NXDUSDT (-37.68%), CYCLUBUSDT (-13.34%), OMCUSDT (-12.43%).

Futures Market Updates

Activities on Futures markets are gradually expanding, with the Open Interests (OI) of all cryptocurrencies now recorded at US$4.70 billion, equivalent to a 7.31% increase. The aggregated futures volume also saw an increase of 4.47% to US$187 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 to 70% of the total OI, now standing at US$3.27 billion, which is a 9.73% increase from yesterday. The daily volume of Bitcoin contracts increased by 1.69% to US$190,447.00. The last cycle of funding rate (-0.0014%) demonstrates a mild buy signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, leaning towards bullish at 54.64%/45.36%. Most BTC long ETFs locked in a significant price increase yesterday, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$39.78 from the opening price of US$40.41.

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