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Bitget Bites (August 12, 2022)

Bitget Bites (August 12, 2022)

The global market cap is standing at US$1.146 trillion, showing a 0.66% decrease from yesterday and the 24-hour volume was down by 6.04% to US$83.27 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$23,828.59 and US$24,822.63 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$23,970.36, which is a 2.58% decrease compared to Ethereum’s 0.32% decrease.

There has also been an increase (+42.36%) in the volume of our spot market. 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$1 billion, in order of market cap and volume we have BNB (-3.01%), XRP (-1.53%), and ADA (-2.75%).

The highest price and lowest price levels of BGB in the last 24 hours were US$0.17096 and US$0.16950, respectively.

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The Top 3 Gainers of The Day are Genopets (GENE), Flux (FLUX), and SolRazr (SOLR).

1st Place

GENEUSDT: Up by 24.01%

GENE Token is a governance and staking token that represents the value of the Genopets game as a whole and is used to craft in-game NFTs. GENE holders gain access to exclusive peaks at new content, have a voice in-game design, and can participate in special community perks like airdrops. With a current market cap of $34,679,422.96 and a trading volume of $14,253,151.29, GENE is trading at a current market price of $8.77.

2nd Place

FLUXUSDT: Up by 12.97%

Flux is an open-source, community driven and independent project without any outside investors. As such $Flux is fairly distributed without any pre-mined coins or distributions for others than holders, miners and node operators. With a current market cap of $204,799,661.49 and a trading volume of $22,909,454.29, FLUX is trading at a current market price of $0.7927.

3rd Place

SOLRUSDT: Up by 12.67%

SolRazr is the first decentralized developer ecosystem for Solana, offering Launchpad, Accelerator, and Developer Tools. With a current market cap of $95,128,719.47 and a trading volume of $740,396.92, SOLR is trading at a current market price of $0.07461.

Meanwhile, the Top 3 Losers include: DAOUSDT (-35.13%), VTUUSDT (-12.48%), and OPUSDT (-9.04%).

Futures Market Updates

Activities on Futures markets are slowly increasing, with the Open Interests (OI) of all cryptocurrencies now recorded at US$4.14 billion, equivalent to a 0.81% decrease from yesterday. The 24-hours aggregated volume of all contracts is standing at US$195.7 billion (-17.40%).

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Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance contracted slightly to 64% of the total OI at US$2.67B but the daily volume of Bitcoin futures increased by 2.91% to US$210,852.64. The last cycle of funding rate (+0.0001%) demonstrates a neutral signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, currently even more bullish than yesterday at 63.55%/36.45%. Most BTC long ETFs locked in a price decrease, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$32.24 from the opening price of US$31.62.

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