Bitget Bites (December 1, 2022)
The global market cap is standing at US$862 billion, showing a 0.88% increase from yesterday and the 24-hour volume also went up by 0.29% to US$48.46 billion. Our report on activities of the Spot Market and Futures Market are below:
Spot Market Updates
Bitcoin has been trading between US$17,249.92 and US$16,756.04 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$17,205.9, which is a 1.64% increase compared to Ethereum's 1.65% increase.
Altcoin prices are partially in the green, with DOGE (-2.10%) 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$0.2016 and US$0.1951, respectively.
The Top 3 Gainers of The Day are League of Kingdoms (LOKA), KOK PLAY (KOK), and Caduceus (CMP):
LOKAUSDT: Up by 12.8%
League of Kingdoms is one of the world's first blockchain MMO strategy games. LOKA is trading at a current market price of US$0.4555, having touched a high of US$0.6198 and a low of US$0.3393 in the past 24 hours.
KOKUSDT: Up by 9.45%
KOK PLAY is a decentralised digital content platform that was created through the combination of our AI, big data, and blockchain technology. KOK is trading at a current market price of US$0.1193, having touched a high of US$0.1216 and a low of US$0.0906 in the past 24 hours.
CMPUSDT: Up by 6.88%
Caduceus is the world's first decentralised edge rendering metaverse protocol. CMP is trading at a current market price of US$0.1178, having touched a high of US$0.1349 and a low of US$0.1099 in the past 24 hours.
Futures Market Updates
Future activities are cooling down, with the Open Interest (OI) of all cryptocurrencies now recorded at US$3.94 billion, equivalent to a 7.56% 24-hour decrease. The aggregated futures volume saw a 34.37% decrease to US$275 billion.
Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance accounts for 65% of the total OI, now standing at US$2.57 billion, which shows a 8.24% decrease from yesterday. The daily volume of Bitcoin contracts decreased by 9.18% to US$190,883.29. Funding rate of the last cycle stands at 0.000%.
Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now bearish at 36.03%/63.97%. Most BTC long ETFs locked in a price increase yesterday, but that's not the case for the highly anticipated ProShares' Short Bitcoin Strategy ETF (BITI), which closed the day at US$39.13 from the opening price of US$40.22.