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Bitget Bites (October 18, 2022)

Bitget Bites (October 18, 2022)

The global market cap is standing at US$933.88 billion, showing a 1.01% increase from yesterday and the 24-hour volume went up by 25.19% to US$50.58 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$19,675.02 and US$19,232.80 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$19,542.02, which is a 1.68% increase compared to Ethereum’s 2.45% increase.

There has been an overall increase in the price of altcoins over the past 24 hours, with XRP (+2.05%) 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$0.19209 and US$0.18420, respectively.

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The Top 3 Gainers of The Day are Ankr (ANKR), Frax Share (FXS), and MoonDAO (MOONEY):

1st Place

ANKRUSDT: Up by 12.41%

Ankr is an infrastructure solution for Web3 and DeFi. ANKR is trading at a current market price of US$0.0317831, having touched a high of US$0.0335157 and a low of US$0.0271660 in the past 24 hours.

2nd Place

FXSUSDT: Up by 8.49%

Frax Protocol is the first crypto project to offer a fractional stablecoin, meaning that the stability is maintained partially by collateral and partially by algorithm. Its native token, FXS, is trading at a current market price of US$6.635, having touched a high of US$6.757 and a low of US$5.883 in the past 24 hours.

3rd Place

MOONEYUSDT: Up by 8.15%

The ultimate goal of MoonDAO is to decentralise access to space by taking advantage of the DAO governance process. MOONEY is trading at a current market price of US$0.003983, having touched a high of US$0.003983 and a low of US$0.003403 in the past 24 hours.

Meanwhile, the Top 3 Losers include: SOLRUSDT (-37.10%), PERPUSDT (-22.99%) and FIUUSDT (-17.77%).

Futures Market Updates

Activities on Futures markets continued to expand, with the Open Interest (OI) of all cryptocurrencies now recorded at US$5.82 billion, equivalent to a 5.05% 24-hour increase. The aggregated futures volume, however, saw a decrease of 20.75% to US$168 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 67% of the total OI, now standing at US$3.88 billion, which is a 4.58% increase from yesterday. The daily volume of Bitcoin contracts increased by 61.93% to US$185,207.60. The last cycle of funding rate (-0.0052%) demonstrates a potential buy signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, bullish at 55.04%/44.96%. Most BTC long ETFs locked in a price increase yesterday, even the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$37.92 from the opening price of US$37.81.

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