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Bitget Bites (December 19, 2022)

Bitget Bites (December 19, 2022)

The global market cap is standing at US$807 billion, showing a 0.21% decrease from yesterday and the 24-hour volume also went down by 14.49% to US$22.45 billion. Our report on activities of the Spot Market and Futures Market are below:


Spot Market Updates

Bitcoin has been trading between US$16,824.07 and US$16,623.73 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$16,667.04, which is a 0.42% decrease compared to Ethereum's 0.52% decrease.


Altcoin prices are still trying to recover from the weekend plunge, with no 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$0.1839 and US$0.1779, respectively.


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The Top 3 Gainers of The Day are EthereumFair (ETHF), Grove Token (GVR), and Loom Network (LOOM):


1st Place

ETHFUSDT: Up by 25.11%

EthereumFair is a fork of Ethereum that keeps POW. Anyone can participate without restrictions. ETHF is trading at a current market price of US$0.3746, having touched a high of US$0.4136 and a low of US$0.2692 in the past 24 hours.


2nd Place

GVRUSDT: Up by 8.73%

Grove Token is a decentralised and secure green Token built for the future of our planet. GVR is trading at a current market price of US$0.000000000635 , having touched a high of US$0.000000000659  and a low of US$0.000000000584  in the past 24 hours.


3rd Place

LOOMUSDT: Up by 5.69%

Loom Network is a platform as a service that is built on top of Ethereum and allows developers to run large-scale decentralised applications. LOOM is trading at a current market price of US$0.04604, having touched a high of US$0.04733 and a low of US$0.04155 in the past 24 hours.


Meanwhile, the Top 3 Losers include RADUSDT (-13.92%), ARGUSDT (-12.53%), and AURORAUSDT (-9.96%).


Futures Market Updates

Future activities are cooling down, with the Open Interest (OI) of all cryptocurrencies now recorded at US$3.47 billion, equivalent to a 10.09% 24-hour decrease. The aggregated futures volume saw a 74.21% increase to US$1.95 trillion.


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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 68% of the total OI, now standing at US$2.37 billion, which shows a 10.33% decrease from yesterday. The daily volume of Bitcoin contracts increased by 10.12% to US$123,193.42. 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 53.22%/46.78%. 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$39.63 from the opening price of US$39.16.


Interesting Topics

Bitget’s DCA Strategy: A Hands-on Tutorial

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Bitget Shark Fin Introduction


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