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Bitget Bites (August 30, 2022)

Bitget Bites (August 30, 2022)

The global market cap is standing at US$981.57 billion, showing a 2.78% increase from yesterday and the 24-hour volume was up by 18.48% to US$64.55 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$19,767.95 and US$20,497.47 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$20,212.51, which is a 0.74% increase compared to Ethereum’s 1.63% increase.

There has also been an increase (+13.89%) in the volume of our spot market. There has been an increase 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 (+3.38%), XRP (+3.32%), and ADA (+4.56%).

The highest price and lowest price levels of BGB in the last 24 hours were US$0.15769 and US$0.15000, respectively.

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The Top 3 Gainers of The Day are beFITTER (FIU), Verasity (VRA), and Wrapped NXM (WNXM).

1st Place

FIUUSDT: Up by 7.38%

beFITTER is a web3 fitnessfi and socialfi app developed by VerseHub Global that aims to make a healthy lifestyle irresistible. beFITTER follows the trend of earning money, but in a more sustainable way. The goal of beFITTER is not to encourage users to run and earn in a circle of boredom. The primary goal of beFITTER is to create a healthy and balanced ecosystem that improves physical health through proper exercise and rest regimens. Almost all of the users' daily activities, including sleeping, are tracked and rewarded. With a current market cap of $862,642.41 and 24 hour trading volume of US$205,660.18, touching a high of US$0.019118 and a low of US$0.016370 in the past 24 hours, FIU is trading at a current market price of $0.018026.

2nd Place

VRAUSDT: Up by 5.98%

Verasity (VRA), founded on May 18, 2018, is the next generation of video-sharing, aiming to create a fair system for creators to earn from their work and advertisers to gain value for their ad spend. It accomplishes this through its proof-of-value (PoV) protocol, product layers, and platform, a pro-gaming streaming platform that features esports tournaments such as PUBG Mobile which, according to their whitepaper, is Verasity's most important use case. With a current market cap of $50,188,463.19 and a 24-hour trading volume of US$10,164.85, touching a high of US$0.005439 and a low of US$0.004345 in the past 24 hours, VRA is trading at a current market price of US$0.004840.

3rd Place

WNXMUSDT: Up by 3.87%

WNXM is the Nexus Mutual protocol's governance token. It is used to purchase insurance, vote on governance decisions, and take part in risk and claims assessments. It is also used to encourage capital provision and symbolizes ownership of the mutual's capital. The value of WNXM will rise in tandem with the mutual's capital pool. With a current market cap of $26,707,193.71 and a 24 hour trading volume of US$249,210.88, touching a high of US$16.3587 and a low of US14.8216 in the past 24 hours, WNXM is trading at a current market price of $15.9410.

Meanwhile, the Top 3 Losers include: KNOTUSDT (-26.61%), ONITUSDT (-19.27%) and USDSPUSDT (-19.26%).

Futures Market Updates

Activities on Futures markets are expanding with the Open Interests (OI) of all cryptocurrencies now recorded at US$4.26 billion, equivalent to a 1.91% increase from yesterday. The aggregated futures volume also saw an increase of 3.14% to US$164 billion in the last 24 hours.

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Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance accounted for 68% of the total OI, now standing at US$2.91 billion, a 2.11% increase from the previous day. The daily volume of Bitcoin contracts increased by 17.67% to US$189,673.30. The last cycle of funding rate (-0.0038%) demonstrates a weak buy signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, bearish at 47.89%/52.11%. Most BTC long ETFs locked in a price increase on Monday, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$38.55 from the opening price of US$38.83.

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