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Bitget Bites (December 13, 2022)

Bitget Bites (December 13, 2022)

The global market cap is standing at US$848 billion, showing a 0.91% increase from yesterday and the 24-hour volume also went up by 12.69% to US$33.32 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$17,213.99 and US$16,913.73 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$17,155.44, which is a 1.40% increase compared to Ethereum's 1.99% increase.

Altcoin prices are dipping in the green, with BNB (-3.88%) 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$0.1889 and US$0.1860, respectively.

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The Top 3 Gainers of The Day are Ribbon Finance (RBN), Dejitaru Tsuka (TSUKA), and Tamadoge (TAMA):

1st Place

RBNUSDT: Up by 8.72%

Ribbon uses financial engineering to create structured products that deliver sustainable yield. RBN is trading at a current market price of US$0.2680, having touched a high of US$0.2703 and a low of US$0.02414 in the past 24 hours.

2nd Place

TSUKAUSDT: Up by 8.49%

Dejitaru Tsuka intends to revolutionise the decentralised world as a digital currency spreading the power of positivity through its community. TSUKA is trading at a current market price of US$0.06934, having touched a high of US$0.07089 and a low of US$0.06353 in the past 24 hours.

3rd Place

TAMAUSDT: Up by 7.32%

Tamadoge is the gateway token of the Tamaverse. TAMA is trading at a current market price of US$0.01582, having touched a high of US$0.01645 and a low of US$0.013 in the past 24 hours.

Meanwhile, the Top 3 Losers include HOOKUSDT (-16.55%), IXTUSDT (-16.12%), and BOTUSDT (-15.49%).

Futures Market Updates

Future activities are cooling down, with the Open Interest (OI) of all cryptocurrencies now recorded at US$3.95 billion, equivalent to a 3.15% 24-hour decrease. The aggregated futures volume saw a 25.04% decrease to US$207 billion.

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Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance accounts for 66% of the total OI, now standing at US$2.63 billion, which shows a 5.80% decrease from yesterday. The daily volume of Bitcoin contracts increased by 8.30% to US$131,741.53. 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 69.05%/30.95%. 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$39.00 from the opening price of US$39.31.

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