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Bitget Bites (October 7, 2022)

Bitget Bites (October 7, 2022)

The global market cap is standing at US$957.996 billion, showing a 1.45% decrease from yesterday and the 24-hour volume went down by 0.15% to US$59.895 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$20319.66 and US$19859.00 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$19951.65, which is a 0.48% increase compared to Ethereum’s 1.11% increase.

There has been an overall decrease in the price of altcoins over the past 24 hours, with BNB (-3.80%) and XRP (-1.62%) being the two altcoins 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$0.18385 and US$0.18211 respectively.

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The Top 3 Gainers of The Day are Aergo (AERGO), XDC Network (XDC), and EthereumFair (ETHF):

1st Place

AERGOUSDT: Up by 7.88%

Aergo is an enterprise blockchain platform that seeks to bring openness and true decentralisation to ‘autonomous businesses’. AERGO is trading at a current market price of US$0.14302, having touched a high of US$0.14867 and a low of US$0.13585 in the past 24 hours.

2nd Place

XDCUSDT: Up by 6.81%

XDC Network is also a blockchain dedicated to serving enterprise needs. XDC is trading at a current market price of US$0.03199, having touched a high of US$0.03245 and a low of US$0.02997 in the past 24 hours.

3rd Place

ETHFUSDT: Up by 6.74%

ETHF is the native token of the PoS Ethereum fork. ETHF is trading at a current market price of US$1.2182, having touched a high of US$1.2715 and a low of US$1.1328 in the past 24 hours. Don’t miss out the chances to stake BGB or ETHF and earn ETHF!

Meanwhile, the Top 3 Losers include: LIKEUSDT (-21.25%), REA LUSDT (-14.74%), CELUSDT (-13.00%).

Futures Market Updates

Activities on Futures markets are contracting, with the Open Interest (OI) of all cryptocurrencies now recorded at US$5.46 billion, equivalent to a 1.09% 24-hour decrease. The aggregated futures volume also saw a decrease of 15.36% to US$259 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 70% of the total OI, now standing at US$3.83 billion, which is a 1.06% increase from yesterday. The daily volume of Bitcoin contracts decreased by 6.68% to US$215,673.70. The last cycle of funding rate (+0.0100%) demonstrates a neutral signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, slightly bullish at 51.29%/48.71%. Most BTC long ETFs also locked in a price decrease yesterday, except for the highly anticipated ProShares’ BTCUSDT">BTCUSDT">Short Bitcoin Strategy ETF (BITI), which closed the day at US$37.08 from the opening price of US$36.93.

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