Bitget Bites (September 29, 2022)

The global market cap is standing at US$941.66 billion, showing a 2.87% increase from yesterday but the 24-hour volume went down by 12.30% to US$82.09 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$18,610.66 and US$19,688.34 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$19,556.74 which is a 3.95% increase compared to Ethereum’s 4.57% increase.

There has also been a significant increase (+39.79%) in the volume of our spot market. There has been a significant increase in the volume and price of altcoins over the past 24 hours, with several altcoins trading above the volume of US$1 billion, in order of market cap and volume we have BNB (+5.45%), XRP (+3.91%) and ADA (+1.64%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.1959 and US$0.1898 respectively.

The Top 3 Gainers of The Day are MoveZ Token (MOVEZ), Highstreet Token (HIGH) and Portugal National Team Fan Token (POR):

1st Place

MOVEZUSDT: Up by 60.66%

MoveZ brings the next generation of fitness combined with Web3 technology. MoveZ offers a unique earning capability that encourages users around the globe to embrace a healthier lifestyle and give new meaning to "move-to-earn" with NFT boosters and loads of other remarkable features. With a 24-hour trading volume of US$44,959.34, touching a high of US$0.00631 and a low of US$0.00352 in the past 24 hours, MOVEZ is trading at a current market price of US$0.00559.

2nd Place

HIGHUSDT: Up by 21.25%

HIGH Token (Highstreet) is a native token of a decentralised commerce-centric play-to-earn metaverse built with virtual reality (VR) support. With a 24-hour trading volume of US$105,906.16, touching a high of US$1.9751 and a low of US$1.3124 in the past 24 hours, HIGH is trading at a current market price of US$1.6410.

3rd Place

PORUSDT: Up by 7.79%

Portugal National Team Fan Token (POR) is a cryptocurrency and operates on the Chiliz platform. With a 24-hour trading volume of US$127,270.32, touching a high of US$6.136 and a low of US$5.200 in the past 24 hours, POR is trading at a current market price of US$5.927.

Meanwhile, the Top 3 Losers include: PRIMEUSDT (-25.15%), DAOUSDT (-16.94%) and TSUKAUSDT (-13.14%).

Futures Market Updates

Activities on Futures markets are expanding, with the Open Interest (OI) of all cryptocurrencies now recorded at US$4.83 billion, equivalent to a 13.11% increase. And the aggregated futures volume saw a decrease of 13.97% to US$234 billion from yesterday.

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance accounts for 69% of the total OI, now standing at US$3.32 billion, which is a 13.31% increase from yesterday. The daily volume of Bitcoin contracts decreased by 10.49% to US$266,886.60. The last cycle of funding rate (-0.0027%) demonstrates a potential buy signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, bearish at 37.31%/62.69%. Most BTC long ETFs also locked in a price increase from yesterday , except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$38.05 from the opening price of US$39.01.

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