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Bitget Bites (November 15, 2022)

Bitget Bites (November 15, 2022)

The global market cap is standing at US$844.72 billion, showing a 4.30% increase from yesterday and the 24-hour volume went up by 36.03% to US$82.73 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$17,109.32 and US$15,872.94 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$16,792.03, which is a 4.11% increase compared to Ethereum’s 5.94% increase.

Altcoin prices are still seeing green, with BNB (+3.87%), XRP (+10.98%), and DOGE (+6.32%) being the three altcoins in the Top 10 trading above the volume of US$1 billion.

The highest price and lowest price levels of BGB in the last 24 hours were US$0.1859 and US$0.1756, respectively.

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The Top 3 Gainers of The Day are Serum (SRM), NuCypher (NU), and Hashflow (HFT):

1st Place

SRMUSDT: Up by 19.96%

Serum is a decentralised exchange (DEX) and ecosystem. SRM is trading at a current market price of US$0.2782, having touched a high of US$0.3329 and a low of US$0.1479 in the past 24 hours.

2nd Place

NUUSDT: Up by 18.82%

NuCypher (NU) are the native tokens used on the NuCypher network. NU is trading at a current market price of US$0.1064, having touched a high of US$0.1147 and a low of US$0.0864 in the past 24 hours.

3rd Place

HFTUSDT: Up by 11.12%

Hashflow is a decentralised exchange designed for interoperability, zero slippage, and MEV-protected trades. HFT is trading at a current market price of US$0.6632, having touched a high of US$0.7160 and a low of US$0.5183 in the past 24 hours.

Meanwhile, the Top 2 Losers include JNSUSDT (-23.52%) and X2Y2USDT (-23.21%).

Futures Market Updates

Futures activities are cooling down, with the Open Interest (OI) of all cryptocurrencies now recorded at US$3.42 billion, equivalent to a 3.01% 24-hour increase. The aggregated futures volume saw a decrease of 42.80% to US$285 billion.

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Bitcoin remained the most popular underlying asset for Futures traders and, without a doubt, the most liquid market: Bitcoin OI Dominance accounts for 66% of the total OI, now standing at US$2.26 billion, which shows a 3.67% increase from yesterday. The daily volume of Bitcoin contracts increased by 66.66% to US$312,621.31. Funding rate of the last cycle stands at 0.0000%.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now bullish at 53.22%/46.78%. Most BTC long ETFs locked in a slight price increase yesterday, same goes for the highly anticipated ProShares’ BTCUSDT">BTCUSDT">Short Bitcoin Strategy ETF (BITI), which closed the day at US$43.24 from the opening price of US$42.55.

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