Bitget Bites (September 7, 2022)

The global market cap is standing at US$934.77 billion, showing a 5.53% decrease from yesterday but the 24-hour volume was up by 32.52% to US$87.03 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$18,702.59 and US$20,004.29 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$18,781.02, which is a 0.12% decrease compared to Ethereum’s 2.96% decrease.

There has also been a significant increase (+235.26%) in the volume of our spot market. There has been a decrease 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 (-6.42%), ADA (-5.30%), and XRP (-9.29%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.15924 and US$0.15110, respectively.

The Top 3 Gainers of The Day are S.S Lazio Fan Token (LAZIO), Santos FC Fan Token (SANTOS), and Helium (HNT).

1st Place

LAZIOUSDT: Up by 5.84%

Lazio Fan Token follows the model of fan tokens by other football clubs. It represents ownership of a voting right and gives fans access to earn unique club-specific rewards and experiences. With a market cap of US$68,151,373.78 and a 24-hour trading volume of US$121,869.13, touching a high of US$8.4262 and a low of US$6.5536 in the past 24 hours, LAZIO is trading at a current market price of US$7.66.

2nd Place

SANTOSUSDT: Up by 5.50%

Santos FC Fan Token (SANTOS) is a fan token of the eponymous football team, SANTOS owners receive a number of benefits: participation in the life of the club and the right to vote in polls, SANTOS token holders can gain access to exclusive rewards, privileges, limited collectible NFTs and to the gamification process. With a current market cap of US$58,810,268.76 and a 24-hour trading volume of US$171,885.90, touching a high of US$13.3989 and a low of US$11.7745 in the past 24 hours, SANTOS is trading at a current market price of US$12.57.

3rd Place

HNTUSDT: Up by 5.35%

Helium (HNT) is a decentralized blockchain-powered network for Internet of Things (IoT) devices. With a current market cap of US$483,377,927.17 and a 24-hour trading volume of US$42,935.86, touching a high of US$3.979 and a low of US$3.203 in the past 24 hours, HNT is trading at a current market price of US$3.56.

Meanwhile, the Top 3 Losers include: MITUSDT (-61.13%), NXDUSDT (-28.51%), GVRUSDT (-15.77%).

Futures Market Updates

Activities on Futures markets are cooling off, with the Open Interests (OI) of all cryptocurrencies now recorded at US$4.45 billion, equivalent to a 1.33% decrease. However, the aggregated futures volume saw an increase of 15.87% to US$292 billion in the last 24 hours.

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance increased to 68% of the total OI, now standing at US$3.02 billion, which is a 0.33% increase from yesterday. The daily volume of Bitcoin contracts increased by 30.42% to US$266,604.90. The last cycle of funding rate (+0.0100%) demonstrates a neutral signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, leaning towards bullish at 52.35%/47.65%. Most BTC long ETFs locked in a significant price decrease yesterday, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$41.18 from the opening price of US$39.05.

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