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Bitget Bites (September 30, 2022)

Bitget Bites (September 30, 2022)

The global market cap is standing at US$943.00 billion, showing a 0.14% increase from yesterday but the 24-hour volume went down by 14.89% to US$69.87 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$18,924.35 and US$19,632.98 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$19,479.18 which is a 0.79% decrease compared to Ethereum’s 1.02% decrease.

There has also been a significant decrease (-15.66%) 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 XRP (+8.46%) being the only altcoin in the Top 10 trading above the volume of US$1 billion.

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.1965 and US$0.1909 respectively.

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The Top 3 Gainers of The Day are XDC network token (XDC), Trilium Token (TLM), and RSS3 Token (RSS3):

1st Place

XDCUSDT: Up by 3.33%

The XDC Network (formerly called XinFin Network) is an enterprise-grade, EVM-compatible blockchain equipped with interoperable smart contracts. With a 24-hour trading volume of US$13,511.23, touching a high of US$0.03200 and a low of US$0.02887 in the past 24 hours, XDC is trading at a current market price of US$0.03100.

2nd Place

TLMUSDT: Up by 3.06%

Alien Worlds (TLM) is a decentralized, non-fungible token (NFT) metaverse, where players compete for scarce resources, Trilium (TLM), in a stimulated economy centered around planetary worlds. With a 24-hour trading volume of US$569,514.45, touching a high of US$0.02423 and a low of US$0.02169 in the past 24 hours, TLM is trading at a current market price of US$0.02325.

3rd Place

RSS3USDT: Up by 2.85%

RSS3 is a next-generation feed protocol that powers decentralized social, content, and e-commerce applications. With a 24-hour trading volume of US$139,910.92, touching a high of US$0.1270 and a low of US$0.1224 in the past 24 hours, RSS3 is trading at a current market price of US$0.1260.

Meanwhile, the Top 3 Losers include: PRIMEUSDT (-35.69%), EVMOSUSDT (-12.66%) and MOONEYUSDT (-11.56%).

Futures Market Updates

Activities on Futures markets are expanding, with the Open Interest (OI) of all cryptocurrencies now recorded at US$4.87 billion, equivalent to a 0.83% increase. And the aggregated futures volume saw a decrease of 10.26% to US$210 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 69% of the total OI, now standing at US$3.38 billion, which is a 1.81% increase from yesterday. The daily volume of Bitcoin contracts increased by 10.52% to US$294,958.50. The last cycle of funding rate (+0.0068%) demonstrates a potential sell signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, bullish at 58.92%/41.08%. Most BTC long ETFs also locked in a price increase from yesterday, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$38.44 from the opening price of US$38.67.

Interesting Topics

Decentralized Internet - Web1, Web2, and Web3

Understanding the Crypto Spot Market (Part 2)

Tokenomics, Which Criteria to Study?

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