Bitget Bites (January 20, 2023)
The global market cap is standing at US$982 billion, showing a 1.53% increase from yesterday but the 24-hour volume went down by 32.98% to US$40.37 billion. Our report on activities of the Spot Market and Futures Market are below:
Spot Market Updates
Bitcoin has been trading between US$21,189 and US$20,689 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$21,102, which is a 1.54% increase compared to Ethereum's 1.96% increase.
Altcoin prices are seeing green, with XRP (+3.23%) 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$0.1989 and US$0.1946, respectively.
The Top 3 Gainers of The Day are PRIMAL (PRIMAL), ssv.network (SSV), and Saitama (SAITAMA):
PRIMALUSDT: Up by 22%
PRIMAL combines 2 massively successful concepts: STEPN-style sports + Chiliz-style fan tokens. PRIMAL is trading at a current market price of US$0.011777, having touched a high of US$0.012149 and a low of US$0.008564 in the past 24 hours.
SSVUSDT: Up by 14.64%
ssv.network is designed for building high-performance, secure, and decentralized ETH staking applications. SSV is trading at a current market price of US$21.1862, having touched a high of US$21.7214 and a low of US$16.5966 in the past 24 hours.
SAITAMAUSDT: Up by 9.68%
Saitama is a community-driven platform that wants to develop solutions to educate the next generation of investors and make crypto simple and safe for everyone. SAITAMA is trading at a current market price of US$0.002021540375, having touched a high of US$0.002025821278 and a low of US$0.001700934186 in the past 24 hours.
Meanwhile, the Top 3 Losers includeAMPLUSDT (-14.13%), REDUSDT (-12.87%), and HEXUSDC (-10.47%).
Futures Market Updates
Future activities are cooling down, with the Open Interest (OI) of all cryptocurrencies now recorded at US$4.57 billion, equivalent to a 1.58% 24-hour decrease. The aggregated futures volume saw a 81.03% decrease to US$1.11 trillion.
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$3.11 billion, which shows a 2.88% decrease from yesterday. The daily volume of Bitcoin contracts decreased by 48.77% to US$157,616.73. 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 56.53%/43.47%. 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$30.44 from the opening price of US$30.96.