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Bitget Bites (October 4, 2022)

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2022-10-04
Bitget Bites (October 4, 2022)

The global market cap is standing at US$942.68 billion, showing a 1.66% increase from yesterday and the 24-hour volume went up by 14.01% to US$51.89 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$19,720.27 and US$19,063.11 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$19,571.03 which is a 2.10% increase compared to Ethereum’s 2.43% increase.

There has also been a significant decrease (-47.58%) 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 (+1.17%) 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$0.18650 and US$0.18410 respectively.

Bitget Bites (October 4, 2022) image 0

The Top 3 Gainers of The Day are beFITTER (FIU), Forta (FORT), and Aurora (AURORA):

1st Place

FIUUSDT: Up by 32.31%

beFITTER is a health-focused ecosystem empowered by blockchain tech. Users will be rewarded through daily activities from running to sleeping, which in turn will motivate them to maintain a balanced lifestyle. The project is currently under Pre-mainnet Phase as per the Whitepaper. FIU, the social token of beFITTER, is trading at a current market price of US$0.2367, having touched a high of US$0.017734 and a low of US$0.011037 in the past 24 hours.

2nd Place

FORTUSDT: Up by 16.93%

Forta is a blockchain security firm built to protect crypto projects and companies from real-time threats and abnormal on-chain activities. FORT is trading at a current market price of US$0.23398, having touched a high of US$0.28352 and a low of US$0.12304 in the past 24 hours.

3rd Place

AURORAUSDT: Up by 5.65%

Aurora is an Ethereum Virtual Machine (EVM), meaning Ethereum-compatible network, built on top of NEAR Protocol. That guarantees seamless interactions between Aurora and Ethereum as well as low transaction fees and easy scalability derived from NEAR. AURORA is trading at a current market price of US$1.0388 , having touched a high of US$1.0853 and a low of US$0.9605 in the past 24 hours.

Meanwhile, the Top 3 Losers include: SUNUSDT (-18.19%), TSUKAUSDT (-12.45%) and DODOUSDT (-11.20%).

Futures Market Updates

Activities on Futures markets are increasing slightly, with the Open Interest (OI) of all cryptocurrencies now recorded at US$5.03 billion, equivalent to a 4.14% 24-hour increase. The aggregated futures volume, however, saw a decrease of -22.76% to US$241 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$3.42 billion, which is a 4.27% increase from yesterday. The daily volume of Bitcoin contracts increased by 29.46% to US$191,446.20. The last cycle of funding rate (-0.0097%) demonstrates a potential buy signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, bullish at 55.89%/44.11%. Most BTC long ETFs also locked in a price increase yesterday, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$38.08 from the opening price of US$38.76.

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