Bitget Bites (August 17, 2022)

The global market cap is standing at US$1.151 trillion, showing a 0.73% increase from yesterday but the 24-hour volume was down by 16.79% to US$63.99 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$23,733.50 and US$24,131.11 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$24,132.19, which is a 0.83% increase compared to Ethereum’s 2.15% increase.

There has also been an increase (+27.99%) in the volume of our spot market. There has been an increase in the volume and price of altcoins over the past 24 hours, with some altcoins trading above the volume of US$1 billion, in order of market cap and volume we have BNB (+2.06%), ADA (+4.71%), and XRP (+4.94%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.15928 and US$0.15166 , respectively.

The Top 3 Gainers of The Day are EOS (EOS), Truefeedback (TFBX), and BOT (BOT).

1st Place

EOS USDT: Up by 23.81%

The EOS coin is the native token of EOSIO network, which is a type of blockchain technology that is positioning itself as a decentralized operating system. In practice, this means providing blockchain developers with the set of necessary tools and services to build and scale decentralized applications. With a current market cap of $1,624,607,064.92 and trading volume of $852,416,899.47, EOS is trading at a current market price of $1.63.

2nd Place

TFBXUSDT: Up by 12.40%

TrueFeedBack is building a blockchain-based ecosystem to transform data into value. TrueFeedBack, within the ecosystem it has created, focuses on the technologies necessary to develop innovative products that will turn all kinds of data into profit in the real sector and the crypto world. With a current market cap of $1,404,865.73 and a trading volume of $172,241.31, TFBX is trading at a current market price of $0.0005959.

3rd Place

BOTUSDT: Up by 11.86%

The goal of BOT is to facilitate rewards, recognition, conversational experience mechanics, commerce, and monetization. With a current market cap of $136,722.38 and a volume of $327,852.43, BOT is trading at a current market price of $0.001949.

Meanwhile, the Top 3 Losers include: AFKUSDT (-39.82%), CE LUSDT (-22.37%), and FOTAUSDT (-17.64%).

Futures Market Updates

Activities on Futures markets are slowly increasing, with the Open Interests (OI) of all cryptocurrencies now recorded at US$4.43 billion, equivalent to a 2.31% increase from yesterday.

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market, with Bitcoin OI Dominance standing at US$2.76B, or 66% of the total OI. The daily volume of Bitcoin futures, however, declined by one-fifth to US$161,063.00. The last cycle of funding rate (+0.0001%) demonstrates a neutral signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, currently leaning towards bullish at 58.82%/41.18%. Institutional sentiment was mixed as most Bitcoin Long ETFs, Bitcoin Short ETF (BITI) and Grayscale Bitcoin Trust all saw a slight decrease in the last 24 hours.

Interesting Topics

Trading101: How to read candlestick charts (Volume 3)

How Effective are Support and Resistance Levels in Crypto Investing and Trading?

What Is Wash Trading?

Follow Us For More Insights: Twitter | Telegram | LinkedIn | Facebook | Instagram