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Bitget Bites (August 5, 2022)

Bitget Bites (August 5, 2022)

The global market cap is standing at US$1.084T, showing a 0.81% increase from yesterday and the 24-hour volume was down by 3.34% to US$63.60B. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$22,485.70 and US$23,210.91 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$23,184.66, which is a 0.32% decrease compared to Ethereum’s 0.42% decrease.

There has been a decrease in the volume and price of altcoins over the past 24 hours, with some altcoins trading above the volume of US$1B, in order of market cap and volume we have XRP (+0.51%), ADA (+0.01%), and SOL (+0.91%).

The highest price and lowest price levels of BGB in the last 24 hours were US$0.15100 and US$0.14925, respectively.

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The Top 3 Gainers of The Day are MetisDAO (METIS), Coin98 (C98) and Weway (WWY).

1st Place

METISUSDT: Up by 15.25%

The Metis crypto protocol also offers a non-fungible token (NFT) bridge between its Andromeda network and Ethereum, NFT storage, a framework for its version of a decentralized autonomous organization (DAO), decentralized autonomous companies (DACs), and middleware that helps developers manage their smart contracts. With a current market cap of $207,870,612.05 and trading volume of $42,960,773.07, METIS is trading at a current market price of $47.42.

2nd place

C98USDT: Up by 20.97%

Coin98 is a protocol providing an ecosystem of DeFi products that is more accessible to Defi users. Available projects built on the protocol include decentralized exchanges, lending protocols, on-chain governance (via Snapshot), blockchain-based games, and so on.With a current market cap of $111,931,298.55 and trading volume of $93,377,762.86, C98 is trading at a current market price of $0.6032.

3rd Place

WWYUSDT: Up by 18.38%

WeWay is a multichain token and an Entertainment ecosystem with NFT Marketplace for creators, celebrities and their fans. WeWay aims to build the first of it's kind Influencer Metaverse and already provides Experiences, Fundraising, Streaming and Exclusive Members Clubs and Voting mechanisms. With a current market cap of $6,726,908.73 ,and a trading volume of $2,920,758.04. WWY is trading at a current market price of $0.02657.

Meanwhile, the Top 3 Losers include: SHITUSDC (-47.74%), SHITUSDT (-47.22%) MOONEYUSDT (-34.18%)

Futures Market Updates

Activities on Futures markets continued to contract, with the Open Interests (OI) of all cryptocurrencies now recorded at US$3.74B, equivalent to a +3.31% increase from yesterday. The 24-hours aggregated volume of all contracts is standing at US$123B (-12.77%).

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Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI accounted for 65% of the total OI at US$2.43B while the daily volume of Bitcoin contracts only stood at US$187,309.80. The last cycle of funding rate (+0.0100%) demonstrates a neutral signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now leaning towards bullish at 43.54%/56.46%. Most Bitcoin long ETFs ended the day in red, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI) closed at US$35.05 compared to the opening price of US$34.24.

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