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Bitget Bites (September 20, 2022)

Bitget Bites (September 20, 2022)

The global market cap is standing at US$930.75 billion, showing a 2.36% increase from yesterday and the 24-hour volume was up by 5.64% to US$74.81 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$18,390.32 and US$19,639.48 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$19,399.27, which is a 3.10% increase compared to Ethereum’s 4.43% increase.

There has also been an increase (+96.53%) 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 few altcoins trading above the volume of US$1 billion, in order of market cap and volume we have BNB (+3.08%), XRP (+8.72%), and ADA (+1.34%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.17280 and US$0.16871, respectively.

Bitget Bites (September 20, 2022) image 0

The Top 3 Gainers of The Day are Voyager Token (VGX), Bitcicoin (BITCI) and ETHPoW (ETHWUSDT)

1st Place

VGX USDT: Up by 12.39%

Voyager Token is a cryptocurrency broker that provides investors with a trusted and secure access point to crypto asset trading. With a 24-hour trading volume of US$260,083.29, touching a high of US$0.7767 and a low of US$0.5749 in the past 24 hours, VGX is trading at a current market price of US$0.7072.

2nd Place

BITCIUSDT: Up by 10.88%

BITCI coin is the main coin of Bitcichain blockchain. BitciChain is private proof of Authority (PoA) Blockchain Network. Bitcichain is designed to provide blockchain solutions businesses. With a 24-hour trading volume of US$59,660.13, touching a high of US$0.009215 and a low of US$0.007659 in the past 24 hours, BITCI is trading at a current market price of US$0.008811.

3rd Place

ETHWUSDT: Up by 9.73%

EthereumPoW (ETHW) is a hard fork of Ethereum blockchain after the Ethereum Merge. The Merge sees Ethereum transition to proof-of-stake, while the forked version would remain on proof-of-work. With a 24-hour trading volume of US$433,324.79, touching a high of US$6.938 and a low of US$4.769 in the past 24 hours, ETHW is trading at a current market price of US$6.938.

Meanwhile, the Top 3 Losers include: KNCUSDT (-25.51%), GODSUSDT (-24.35%), and JNSUSDT (-23.17%)

Futures Market Updates

Activities on Futures markets are expanding, with the Open Interests (OI) of all cryptocurrencies now recorded at US$4.16 billion, equivalent to a 1.71% increase. However the aggregated futures volume saw a decrease of 26.69% to US$184 billion 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 68% of the total OI, now standing at US$2.84 billion, which is a 2.16% increase from yesterday. The daily volume of Bitcoin contracts increased by 25.73% to US$250,452.20. The last cycle of funding rate (+0.0028%) demonstrates a potential sell signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, bearish at 47.46%/52.54%. Most BTC long ETFs also locked in a significant price increase yesterday, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$38.37 from the opening price of US$39.86.

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