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Bitget Bites (November 21, 2022)

Bitget Bites (November 21, 2022)

The global market cap is standing at US$792.11 billion, showing a 5.23% decrease from yesterday but the 24-hour volume went up by 68.08% to US$56.00 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$16,755.66 and US$15,962.89 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$15,962.89, which is a 4.35% increase compared to Ethereum’s 8.20% increase.

Altcoin prices are swimming in the green, with XRP (+10.91%) being the only altcoin 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$0.1828 and US$0.1781, respectively.

Bitget Bites (November 21, 2022) image 0

The Top 3 Gainers of The Day are Trivians (TRIVIA), Raydium (RAYUSDT), and Sonm (SNM):

1st Place

TRIVIAUSDT: Up by 17.29%

Trivians is the ultimate trivia & puzzle gaming platform for play2earn ecosystem. TRIVIA is trading at a current market price of US$0.01004, having touched a high of US$0.01042 and a low of US$0.00846 in the past 24 hours.

2nd Place

RAYUSDT: Up by 10.02%

Raydium is an automated market maker (AMM) and liquidity provider built on the Solana blockchain for the Serum decentralised exchange (DEX). RAY is trading at a current market price of US$0.2020, having touched a high of US$0.2404 and a low of US$0.1657 in the past 24 hours.

3rd Place

SNMUSDT: Up by 8.32%

Sonm provides cloud services based on distributed customer-level hardware including PCs, mining equipment, and servers. SNM is trading at a current market price of US$1.6482, having touched a high of US$13.728 and a low of US$1.3619 in the past 24 hours.

Meanwhile, the Top 3 Losers include VOLTUSDT (-36.78%), MCRTUSDT (-35.04%), and PRIMEUSDT (-21.92%).

Futures Market Updates

Futures activities are getting warmed up, with the Open Interest (OI) of all cryptocurrencies now recorded at US$3.34 billion, equivalent to a 1.20% 24-hour decrease. The aggregated futures volume saw an increase of 72.94% to US$272 billion.

Bitget Bites (November 21, 2022) image 1

Bitcoin remained the most popular underlying asset for futures traders and, obviously, the most liquid market: Bitcoin OI Dominance accounts for 64% of the total OI, now standing at US$2.15 billion, which shows a 2.73% decrease from yesterday. The daily volume of Bitcoin contracts decreased by 6.48% to US$179,454.10. Funding rate of the last cycle stands at 0.0000%.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now bullish at 52.75%/47.25%. Most BTC long ETFs locked in a slight price increase yesterday, the same goes for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$41.71 from the opening price of US$41.34.

Interesting Topics

The Complete Guide to USDC-Margined Futures on Bitget

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