Bitget Bites (July 21, 2022)

The global market cap is standing at US$1.020T, showing a 3.62% decrease from yesterday and the 24-hour volume was down by 5.48% to US$95.85B. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$22,707.51 and US$24,196.82 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$22,908.38, which is a 2.06% decrease compared to Ethereum’s 4.74% decrease.

There has been a decrease in the volume and price of altcoins over the past 24Hr, with so many altcoins trading below $1bn, in order of hierarchy we have XRP (-5.03%%), ADA (-8.93%), and SOL (-10.32%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.15123 and US$0.14309, respectively.

The Top 3 Gainers of The Day are Music Infinity Token (MIT), Cripco (IP3) and Element Black (ELT).

1st Place

MITUSDT: Up by 12.86%

MUSIC INFINITY is a platform that links artists and fans, dedicated to creating a decentralized ecosystem with original content and digital assets. With a current market cap of $85,080.53 and trading volume of $242,380.91, MIT is trading at a current market price of $0.08506.

2nd place

IP3USDT: Up by 7.45%

CRIPCO is a Singapore-based global blockchain and NFT company that aims to popularize NFTs based on various IPs,CRIPCO's governance is based on a Decentralized Autonomous Organization (DAO), which oversees all business-critical decisions from IP screening to IP-based NFT projects. With a trading volume of $1,506,657.47, CRIPCO is trading at a current market price of $0.8112.

3rd Place

ELTUSDT: Up by 4.23%

Element. Black (ELT) is a Social-Fi NFT Game development platform with the mission to build a NFT 2.0/Create-To-Earn ecosystem. Element. Black strives to become the PUGC NFT distribution platform of the new age and the bridge to connect Web 2.0 celebrities and fashion brands with Web 3.0 NFT social experiences. With a current market cap of $2,339,196.17 and trading volume of $985,910.51, SLG is trading at a current market price of $0.009771.

Meanwhile, the Top 3 Losers include: USDSP (-16.02%), XDC (-15.71%) ONIT (-15.31).

Futures Market Updates

The Open Interests (OI) of all cryptocurrencies is going up again, now recorded at US$4.25B, which is equivalent to a 17.40% increase from yesterday and the 24-hours aggregated volume of all contracts at US$406B (+53.21%).

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market. Previously varying between 64% and 67%, Bitcoin OI to the total OI ratio has jumped to 76% overnight, while the daily volume of Bitcoin contracts further declined to US$282,056.20. The last cycle of funding rate (-0.0100%) demonstrates a fairly neutral signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now clearly showing bearish signs at 52.19%/47.81%. Among Bitcoin ETFs with the highest uptick in volume were ARKW, BITQ and BLKC. The highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI) ended the day at US$33.73 compared to the opening price of US$33.46.

Interesting Topics

Lens Protocol - A Decentralized Web3 Social Graph and Web2 Social Media Disruptor

Origin Dollar Governance (OGV) Introduction

Cere Network (CERE) Introduction

Cripco (IP3) Introduction

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