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Bitget Bites (December 2, 2022)

Bitget Bites (December 2, 2022)

The global market cap is standing at US$851 billion, showing a 1.34% decrease from yesterday and the 24-hour volume also went down by 12.10% to US$42.62 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$17,222.63 and US$16,867.76 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$16,956.19, which is a 1.46% decrease compared to Ethereum's 1.18% decrease.

Altcoin prices are seeing red, with BNB (-3.13%) being the only altcoin 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$0.1987 and US$0.1939, respectively.

Bitget Bites (December 2, 2022) image 0

The Top 3 Gainers of The Day are The RED Token (RED) and Luna Classic (LUNC):

1st Place

REDUSDT: Up by 39.21%

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.

2nd Place/3rd Place

LUNCUSDC/LUNCUSDT: Up by 12.60%/12.48%

LUNA Classic is renamed from Terra Chain's native token, LUNA. LUNC is trading at a current market price of US$0.0001900, having touched a high of US$0.0001929 and a low of US$0.00016 in the past 24 hours.

Meanwhile, the Top 3 Losers include FREEUSDT (-25.18%), ITAUSDT (-13.43%), and FITFIUSDT (-11.20%).

Futures Market Updates

Future activities are getting warmed up, with the Open Interest (OI) of all cryptocurrencies now recorded at US$4.25 billion, equivalent to a 7.99% 24-hour increase. The aggregated futures volume saw a 0.12% decrease to US$274 billion.

Bitget Bites (December 2, 2022) image 1

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance accounts for 66% of the total OI, now standing at US$2.79 billion, which shows a 8.73% increase from yesterday. The daily volume of Bitcoin contracts decreased by 10.10% to US$171,595.19. 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 46.2%/53.8%. Most BTC long ETFs locked in a price increase yesterday, same went for the highly anticipated ProShares' BTCUSDT">BTCUSDT">Short Bitcoin Strategy ETF (BITI), which closed the day at US$39.70 from the opening price of US$39.50.

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