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Bitget Bites (December 29, 2022)

Bitget Bites (December 29, 2022)

The global market cap is standing at US$795 billion, showing a 0.80% decrease from yesterday but the 24-hour volume went up by 6.97% to US$30.03 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$16,795.7 and US$16,492.51 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$16,541.73, which is a 0.36% decrease compared to Ethereum's 0.29% decrease.

Altcoin prices are seeing red, 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$0.1846 and US$0.1790, respectively.

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The Top 3 Gainers of The Day are XEN Crypto (XEN), Dent (DENT), and Mirror Protocol (MIR):

1st Place

XENUSDT: Up by 31.93%

XEN Crypto is an ERC-20 token built on the Ethereum blockchain. XEN is trading at a current market price of US$0.000007097, having touched a high of US$0.000007118 and a low of US$0.000003956 in the past 24 hours.

2nd Place

DENTUSDT: Up by 12.1%

Dent is a revolutionary digital mobile operator offering eSIM cards, mobile data plans, call minutes top-ups and a roaming-free experience. DENT is trading at a current market price of US$0.00075425, having touched a high of US$0.00119467 and a low of US$0.00056931 in the past 24 hours.

3rd Place

MIRUSDT: Up by 4.99%

MIR is the governance token of Mirror Protocol, a synthetic assets protocol built by Terraform Labs (TFL) on the Terra blockchain. MIR is trading at a current market price of US$0.13172, having touched a high of US$0.14942 and a low of US$0.11724 in the past 24 hours.

Meanwhile, the Top 3 Losers include MOONEYUSDT (-21.63%), SDUSDT (-19.11%), and GEARUSDT (-15.83%).

Futures Market Updates

Future activities are cooling down, with the Open Interest (OI) of all cryptocurrencies now recorded at US$3.52 billion, equivalent to a 0.42% 24-hour decrease. The aggregated futures volume saw a 27.24% decrease to US$374 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$2.35 billion, which shows a 0.03% increase from yesterday. The daily volume of Bitcoin contracts increased by 9.65% to US$161,224.08. 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 53.76%/46.24%. 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$40.15 from the opening price of US$40.11.

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