Bitget Bites (July 13, 2022)

The global market cap is standing at US$871.4B, showing a 1.74% decrease from yesterday but the 24-hour volume was up by 3.71% to US$55.51B. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$19,292.33 and US$19,973.58 within the last 24 hours. As of 3:30 AM UTC, BTC price is standing at US$19,498.91, which is a 2.23% decrease compared to Ethereum’s 3.04% decrease.

There has been a decrease in the volume and price of altcoins over the past 24 hours, with only so many altcoins trading above US$1B, in order of hierarchy we have BCH (-1.50%), XRP (-0.43%), and SOL (-1.60%) coming behind and trading above $10B. These three coins have retained the top 3 spots for 48 hours.

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.14103 and US$0.13600 , respectively.

The Top 3 Gainers of The Day are Voyager (VGX), WINkLink (WIN) and FORTA (FORT).

1st Place

VGXUSDT: Up by 114.60%

Voyager Token (VGX) is an Ethereum token that's used to reward and incentivize use of the Voyager centralized exchange. On Voyager, VGX holders can earn staking rewards, receive cashback on trades, and more. With a current market cap of $106,732,840.41M and a trading volume of $161,156,213.28M, Voyager is trading at a current price of $0.3900.

2nd place

WINUSDT: Up by 11.21%

WINkLink's embedded price oracle system offers stable and reliable price feeds to DeFi-building developers. WINkLink allows developers to use any real-world data such as sports and weather. With a current market cap of $118,638,531.59M and a trading volume of $124,027,277.51M, WINK is trading at a current market price of $0.000123.

3rd Place

FORTUSDT: Up by 9.21%

FORT is an ERC-20 token in the Ethereum network. To ensure the accuracy and integrity of the data provided by the network, Forta adopts a work token model, where node runners must stake FORT tokens in order to broadcast real-time security and operational data to the network, and anyone may stake FORT tokens in order to signal detection bot quality in the network. With a current market cap of $6,072,094.70M and a trading volume of $3,492,466.92M, FORTA is trading at a current price of

Meanwhile, the Top 3 Losers include: VOLT (-18.71%), CUBE (-17.55%) and OLE (-15.22%).

Futures Market Updates

The Futures market is slowing down. Today’s Open Interests (OI) of all cryptocurrencies are recorded at US$2.95B, which is equivalent to a 0.67% decrease from yesterday and the 24-hours aggregated volume of all contracts at US$159B (-4.79%).

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI accounted for two-thirds of the total OI at US$1.93B while the daily volume of Bitcoin contracts only stood at US$258,732.50. The last cycle of funding rate (0.0100%) demonstrates a neutral sentiment.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now clearly leaning towards bullish at 49.2%/50.8%. Most Bitcoin ETFs saw a negative 1-day change, except the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which ended the day at US$41.96 compared to the opening price of US$40.90. We can see that bearish sentiment starts to sink in again for both institutional and retail investors.

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