Bitget Bites (October 13, 2022)

The global market cap is standing at US$916 billion, showing a 0.37% decrease from yesterday but the 24-hour volume went up by 64.81% to US$79.82 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$19,234.91 and US$18,847.76 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$19,081.65, which is a 0.19% increase compared to Ethereum’s 0.23% increase.

There has been a slight decrease in the price of altcoins over the past 24 hours, with XRP (-2.46%) being the only altcoin in the Top 10 trading above the volume of US$1 billion.

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.18488 and US$0.18300, respectively.

The Top 3 Gainers of The Day are Ginoa (GINOA), Skeb Coin (SKEB), and Grove Token (GVR):

1st Place

GINOAUSDT: Up by 46.07%

Ginoa is a platform that provides users with NFTs’ fair price information as well as a marketplace for the direct swapping of NFTs. GINOA is trading at a current market price of US$0.5077, having touched a high of US$0.6236 and a low of US$0.1500 in the past 24 hours.

2nd Place

SKEBUSDT: Up by 32.93%

Skeb Coin enables direct and easy commission yielding for Japanese creators. SKEB is trading at a current market price of US$0.007557, having touched a high of US$0.007895 and a low of US$0.004566 in the past 24 hours.

3rd Place

GVRUSDT: Up by 5.80%

Grove is a Dubai-based investment company that focuses on the growth of renewable energies. GVR is trading at a current market price of US$0.000000001223, having touched a high of US$0.000000001357 and a low of US$0.000000001150 in the past 24 hours.

Meanwhile, the Top 3 Losers include: PRIMEUSDT (-38.68%), SLGUSDT (-34.73%) and XENUSDT (-29.70%).

Futures Market Updates

Activities on Futures markets are increasing slightly, with the Open Interest (OI) of all cryptocurrencies now recorded at US$5.54 billion, equivalent to a 1.95% 24-hour decrease. The aggregated futures volume also saw a decrease of 38.72% to US$163 billion from yesterday.

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$3.72 billion, which is a 1.85% decrease from yesterday. The daily volume of Bitcoin contracts decreased by 13.51% to US$147,267.30. The last cycle of funding rate (+0.0100%) demonstrates a neutral signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, bearish at 39.77%/60.23%. Most BTC long ETFs also locked in a price increase yesterday, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$38.83 from the opening price of US$39.04.

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