Bitget Bites (October 31, 2022)

Market updates

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2022-10-31 | 5m

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The global market cap is standing at US$1.013 trillion, showing a 1.25% decrease from yesterday and the 24-hour volume also went down by 18.66% to US$73.04 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$20,929.81 and US$20,430.97 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$20,500.57, which is a 1.39% decrease compared to Ethereum’s 2.58% decrease.

Altcoin prices are going down, with BNB (+1.62%), XRP (-3.10%) and DOGE (-6.14%) being the three altcoins 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$0.19580 and US$0.19210, respectively.

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The Top 3 Gainers of The Day are Celsius (CEL), All Sports (SOC), and TamaDoge (TAMA):

1st Place

CELUSDT: Up by 6.40%

Celsius is a crypto lender that aims to play the role of a bank in the crypto industry. CEL is trading at a current market price of US$1.0059, having touched a high of US$1.0105 and a low of US$0.9145 in the past 24 hours.

2nd Place

SOCUSDT: Up by 5.38%

All Sports Coin is the native token of All Sports X, a blockchain built to support sport marketing, sport IP NFT asset trading, infrastructure implementation and game application development. SOC is trading at a current market price of US$0.0062742, having touched a high of US$0.0081953 and a low of US$0.0043647 in the past 24 hours.

3rd Place

TAMAUSDT: Up by 5.29%

TAMA is your ticket to Tamaverse, a P2E metaverse game powered by a memecoin. TAMA is trading at a current market price of US$0.026768, having touched a high of US$0.027200 and a low of US$0.020350 in the past 24 hours.

Meanwhile, the Top 3 Losers include FLOKIUSDT (-18.25%), DOGEUSDT">BABYDOGEUSDT (-16.98%) and SHIBUSDT (-15.43%).

Futures Market Updates

Some long positions may have been liquidated, with the Open Interest (OI) of all cryptocurrencies now recorded at US$5 billion, equivalent to a 5.08% 24-hour decrease. The aggregated futures volume saw an increase of 64.43% to US$1.39 trillion.

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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 69% of the total OI, now standing at US$3.44 billion, which shows a 4.94% decrease from yesterday. The daily volume of Bitcoin contracts also decreased by 11.89% to US$128,413.70. Funding rate of the last cycle stands at 0.0000%.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now slightly bearish at 41.51%/58.49%. Most BTC long ETFs locked in a price increase on Friday, but that’s not the case for the highly anticipated ProShares’ <a href="/calculator/bitcoin-to-usd" https: www.bitget.com spot BTCUSDT">BTCUSDT">Short Bitcoin Strategy ETF (BITI), which closed the day at US$35.73 from the opening price of US$36.22.