Bitget Bites (July 28, 2022)

The global market cap is standing at US$1.065T, showing a 9.76% increase from yesterday and the 24-hour volume was UP by 43.03% to US$89.11B. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$21,189.48 and US$23,358.34 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$23,183.04, which is a 9.28% increase compared to Ethereum’s 13.28% increase.

There has been an increase in the volume of altcoins and a slight increase in price over the past 24 hours, with some altcoins trading above the volume of US$1B, in order of market cap and volume we have XRP (+6.31%), ADA (+8.66%), and SOL (+7.80%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.15226 and US$0.14505, respectively.

The Top 3 Gainers of The Day are Origin Dollar Governance (OGV), Lido DAO (LDO) and Optimism (OP).

1st Place

OGVUSDT: Up by 36.37%

OGV is the governance and value accrual token for Origin Dollar (OUSD) which is the first stablecoin that earns a yield while it's still in your wallet. Risk Warning: Investing in cryptocurrency is akin to being a venture capital investor. With a current market cap of $5,059,718.80 and trading volume of $2,759,650.62, OGV is trading at a current market price of $0.0113.

2nd place

LDOUSDT: Up by 30.87%

Lido provides liquidity by issuing stETH in exchange for users depositing ETH, allowing them to earn staking rewards on Ethereum 2.0 while maintaining liquidity and reducing the 32 ETH requirement to any amount. With a current market cap of $688,590,269.15 and trading volume of $218,146,453.61, LDO is trading at a current market price of $2.20.

3rd Place

OPUSDT: Up by 30.08%

OP Coin protocol is a revolutionary invention of the last decade. It's essential meaning is money digitization. It's the first decentralized peer-to-peer payment network without using any central authority or middlemen. With a current market cap of $260,690,305.41 trading volume of $326,577,112.00, OP is trading at a current market price of $1.12.

Meanwhile, the Top 3 Losers include: USDPSP (-24.31%), KNOT (-18.60%), LIFE (-11.91%)

Futures Market Updates

The Open Interests (OI) of all cryptocurrencies went up slightly, now recorded at US$4.09B, which is equivalent to a +18.55% increase from yesterday and the 24-hours aggregated volume of all contracts at US$194B (+24.36%).

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI accounted for 78% of the total OI at US$2.69B while the daily volume of Bitcoin contracts only stood at US$236,309.30. The last cycle of funding rate (-0.0063%) demonstrates a mild buy signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now leaning towards bullish at 50.69%/49.31%. Yesterday was green for most Bitcoin ETFs, except the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which ended the day at US$34.53 compared to the opening price of US$37.38. Volume of BITO also saw a huge jump yesterday of 80%, showing institutions were bullish on Bitcoin.

Interesting Topics

Crypto Liquidation Explained and Tips

Origin Dollar Governance (OGV) Introduction

A Beginner's Guide to Cryptocurrency Trading Strategies (Volume 1)

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