Bitget Bites (September 26, 2022)

The global market cap is standing at US$927.53 billion, showing a 0.89% decrease from yesterday and the 24-hour volume went up by 2.24% to US$53.76 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$18,696.47 and US$19,134.73 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$18,780.88, which is a 1.06% decrease compared to Ethereum’s 2.35% decrease.

There has also been a decrease (-63.71%) in the volume of our spot market. There has been a significant decrease in the volume and price of altcoins over the past 24 hours, with altcoins trading below the volume of US$1 billion, in order of market cap and volume we have BNB (-1.32%), XRP (-2.16%) and ADA (-2.90%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.1969 and US$0.1922 respectively.

The Top 3 Gainers of The Day are Flamengo Fan Token (MENGO), XDC Network token(XDC) and MagicCraft Token (MCRT)

1st Place

MENGOUSDT: Up by 19.31%

Flamego Fan Tokens allow fans across multiple sports verticals to exercise their share of influence within their favourite teams/leagues/clubs. With a 24-hour trading volume of US$75,029.85 touching a high of US$2.85566 and a low of US$1.68209 in the past 24 hours, MENGO is trading at a current market price of US$2.47805.

2nd Place

XDCUSDT: Up by 12.57%

The XDC Network (formerly called XinFin Network) is an enterprise-grade, EVM-compatible blockchain equipped with interoperable smart contracts. With a 24-hour trading volume of US$47,909.52, touching a high of US$0.03299 and a low of US$0.02750 in the past 24 hours, XDC is trading at a current market price of US$0.03176.

3rd Place

MCRTUSDT: Up by 8.54%

MagicCraft is a massive PvP - Player vs Player - battle league and Castle Siege game, launched on Binance Smart Chain. MagicCraft enjoys a richly detailed game universe and native MCRT token economy embedded into the gameplay, giving play-to earn rewards through battle success and in-game taxation from lands conquered. With a 24-hour trading volume of US$23,793.88, touching a high of US$0.01199776 and a low of US$0.01004538 in the past 24 hours, MCRT is trading at a current market price of US$0.01199776.

Meanwhile, the Top 3 Losers include: AFKUSDT(-13.62%), BONDUSDT(-11.12%) and VISIONUSDT(-7.38%)

Futures Market Updates

Activities on Futures markets are declining, with the Open Interest (OI) of all cryptocurrencies now recorded at US$4.27 billion, equivalent to a 2.95% decrease. And the aggregated futures volume saw a decrease of 65.75% to US$261 billion from yesterday.

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance accounts for 67% of the total OI, now standing at US$2.86 billion, which is a 3.38% decrease from yesterday. The daily volume of Bitcoin contracts increased by 14.20% to US$153,116.50. The last cycle of funding rate (+0.0100%) demonstrates a neutral signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, bullish at 58.50%/41.50%. Most BTC long ETFs also locked in a price decrease on Friday, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$39.89 from the opening price of US$39.42.

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