Bitget Bites (October 27, 2022)
The global market cap is standing at US$1 trillion, showing a 2.22% increase from yesterday and the 24-hour volume also went up by 13.35% to US$103.44 billion. Our report on activities of the Spot Market and Futures Market are below:
Spot Market Updates
Bitcoin has been trading between US$21,015.07 and US$20,202.17 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$20,809.54, which is a 2.26% increase compared to Ethereum’s 4.24% increase.
Altcoin prices continue to rise, with BNB (+1.42%), XRP (+2.46%) and SOL (+0.57%) being the three altcoins in the Top 10 trading above the volume of US$1 billion.
The highest price and lowest price levels of BGB in the last 24 hours were US$0.20010 and US$0.19630, respectively.
The Top 3 Gainers of The Day are QuarkChain (QKC), apM Coin (APM), and SolanaPrime (PRIME):
QKCUSDT: Up by 24.02%
QuarkChain is an Ethereum-compatible multi-layer blockchain that targets a throughput of 10,000 transactions per second. QKC is trading at a current market price of US$0.015365, having touched a high of US$0.017379 and a low of US$0.010879 in the past 24 hours.
APMUSDT: Up by 13.26%
apM is a customer reward management platform specifically built for Korea’s biggest B2B fashion malls of apM, apM PLACE and apM Luxe. APM is trading at a current market price of US$0.02468, having touched a high of US$0.02797 and a low of US$0.02138 in the past 24 hours.
PRIMEUSDT: Up by 9.40%
SolanaPrime is the VC DAO and launchpad for Solana-based GameFi and DeFi projects. PRIME is trading at a current market price of US$0.2190, having touched a high of US$0.2233 and a low of US$0.1568 in the past 24 hours.
Meanwhile, the Top 3 Losers include: CUBENETWORKUSDT (-48.12%), THEUSDT (-14.34%) and XENUSDT (-11.39%).
Futures Market Updates
Some short positions may have been liquidated, with the Open Interest (OI) of all cryptocurrencies now recorded at US$6.21 billion, equivalent to a 2.36% 24-hour decrease. The aggregated futures volume saw an increase of 135.48% to US$584 billion.
Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance accounts for 68% of the total OI, now standing at US$4.22 billion, which shows a 1.63% decrease from yesterday. The daily volume of Bitcoin contracts also decreased by 7.06% to US$232,277.00. Funding rate of the last cycle stands at 0.0000%..
Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now slightly bullish at 57.31%/42.69%. Most BTC long ETFs locked in a price increase yesterday, but that’s not the case for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$35.48 from the opening price of US$36.05.