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Bitget Bites (September 27, 2022)

Bitget Bites (September 27, 2022)

The global market cap is standing at US$971.43 billion, showing a 4.73% increase from yesterday and the 24-hour volume went up by 54.41% to US$83.02 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$18,721.29 and US$20,228.72 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$20,018.50, which is 6.21% increase compared to Ethereum’s 6.56% increase.

There has also been an increase (+130.79%) in the volume of our spot market. There has been a significant increase in the volume and price of altcoins over the past 24 hours, with several altcoins trading above the volume of US$1 billion, in order of market cap and volume we have BNB (+4.42%), ADA (+3.23%) and XRP (-1.52%)

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.1957 and US$0.1834 respectively.

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The Top 3 Gainers of The Day are Euler Token (EUL), XMON token (XMON) and Metashooter Token (MHUNT):

1st Place

EULUSDT: Up by 32.32%

Euler is a capital-efficient permissionless lending protocol that helps users to earn interest on their crypto assets or hedge against volatile markets without the need for a trusted third party. With a 24-hour trading volume of US$91,300.88 touching a high of US$10.4062 and a low of US$7.1917 in the past 24 hours, EUL is trading at a current market price of US$8.8543.

2nd Place

XMONUSDT: Up by 20.09%

0xmons is a NFT platform for summoning neutral net generated pixel monsters. With a 24-hour trading volume of US$97,212.00, touching a high of US$24458.41 and a low of US$16723.44 in the past 24 hours, XMON is trading at a current market price of US$21630.08.

3rd Place

MHUNTUSDT: Up by 9.34%

MetaShooter is the first decentralized blockchain-based hunting metaverse. MetaShooter joins millions of gaming enthusiasts in a community where they can experience realistic hunting and develop many activities with monetization opportunities. With a 24-hour trading volume of US$75,092.46 touching a high of US$0.03242 and a low of US$0.02378 in the past 24 hours, MHUNT is trading at a current market price of US$0.03178.

Meanwhile, the Top 3 Losers include: STCUSDT (-22.52%), PPADUSDT (-22.35%) and ETHWUSDT (-19.80%).

Futures Market Updates

Activities on Futures markets are expanding, with the Open Interest (OI) of all cryptocurrencies now recorded at US$4.57 billion, equivalent to a 7.03% increase. And the aggregated futures volume saw a significant increase of 60.15% to US$418 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 accounts for 68% of the total OI, now standing at US$3.10 billion, which is a 8.39% increase from yesterday. The daily volume of Bitcoin contracts increased by 74.22% to US$266,755.60. The last cycle of funding rate (-0.0021%) demonstrates a potential sell signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, torn at 50.77%/49.23%. Most BTC long ETFs also locked in a price increase yesterday , except for the highly anticipated ProShares’ BTCUSDT">BTCUSDT">Short Bitcoin Strategy ETF (BITI), which closed the day at US$38.89 from the opening price of US$39.18.

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