Bitget Bites (December 6, 2022)
The global market cap is standing at US$856 billion, showing a 1.16% decrease from yesterday but the 24-hour volume went up by 18.26% to US$39.37 billion. Our report on activities of the Spot Market and Futures Market are below:
Spot Market Updates
Bitcoin has been trading between US$17,414.42 and US$16,906.82 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$17,071.04, which is a 1.01% decrease compared to Ethereum's 2.09% decrease.
Altcoin prices are seeing red, with DOGE (-1.87%) 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$0.1911 and US$0.1870, respectively.
The Top 3 Gainers of The Day are XEN Crypto (XEN), FREEDOM coin (FREE),, and Adventure Gold (AGLD):
XENUSDT: Up by 21.59%
XEN Crypto is an ERC-20 token built on the Ethereum blockchain. XEN is trading at a current market price of US$0.000007068, having touched a high of US$0.000007068 and a low of US$0.00005641 in the past 24 hours.
FREEUSDT: Up by 7.91%
The FREEDOM coin is a multi-blockchain coin, with more than 6 million holders on TRON, BinanceSmartChain and Ethereum. FREE is trading at a current market price of US$0.0000002344, having touched a high of US$0.0000002932 and a low of US$0.0000002029 in the past 24 hours.
AGLDUSDT: Up by 7.69%
Adventure Gold is the native ERC-20 token of the Loot non-fungible token (NFT) project. AGLD is trading at a current market price of US$0.3459, having touched a high of US$0.3795 and a low of US$0.2753 in the past 24 hours.
Meanwhile, the Top 3 Losers include TSUKAUSDT (-16.59%), VOLTUSDT (-11.20%), and BENDUSDT (-10.40%).
Futures Market Updates
Future activities are heating up, with the Open Interest (OI) of all cryptocurrencies now recorded at US$4.23 billion, equivalent to a 7.97% 24-hour increase. The aggregated futures volume saw a whopping 294.58% increase to US$591 billion.
Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance accounts for 67% of the total OI, now standing at US$2.86 billion, which shows a 11.11% increase from yesterday. The daily volume of Bitcoin contracts increased by 6.30% to US$185,072.45. Funding rate of the last cycle stands at 0.0000%
Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now bearish at 30.47%/69.53%. Most BTC long ETFs locked in a price increase yesterday, same goes for the highly anticipated ProShares' Short Bitcoin Strategy ETF (BITI), which closed the day at US$39.75 from the opening price of US$39.00.