Bitget Bites (September 8, 2022)

The global market cap is standing at US$975.95 billion, showing a 4.41% increase from yesterday but the 24-hour volume was down by 19.85% to US$69.76 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$18,710.09 and US$19,427.17 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$19,236.47, which is a 0.07% increase compared to Ethereum’s 0.49% increase.

There has also been a significant increase (+56.15%) 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 no altcoin trading above the volume of US$1 billion, in order of market cap and volume we have BNB (+5.90%), XRP (+5.10%), and ADA (+3.42%).

The highest price and lowest price levels of BGB in the last 24 hours were US$0.17050 and US$0.15333, respectively.

The Top 3 Gainers of The Day are TrueFeedBack (TFBX), Land of Conquest (SLG), and VisionGame (VISION).

1st Place

TFBXUSDT: Up by 16.82%

TrueFeedBack builds a blockchain-based data collection and analysis platform, enabling users to earn TrueFeedBack Tokens (TFBX) as a reward for their actions with the features on their mobile application. With a market cap of US$1,691,682.76 and a 24-hour trading volume of US$23,064.71, touching a high of US$0.000501 and a low of US$0.000066 in the past 24 hours, TFBX is trading at a current market price of US$0.000495.

2nd Place

SLGUSDT: Up by 11.58%

SLG is the governance token of the Land Of Conquest game. With a 24-hour trading volume of US$20,888.05, touching a high of US$0.01609 and a low of US$0.01100 in the past 24 hours, SLG is trading at a current market price of US$0.01479.

3rd Place

VISIONUSDT: Up by 5.96%

VisionGame brings the traditional game publishing experience to the blockchain world. With a current market cap of US$276,044.42 and a 24-hour trading volume of US$130,272.34, touching a high of US$0.00550 and a low of US$0.00429 in the past 24 hours, VISION is trading at a current market price of US$0.00517.

Meanwhile, the Top 3 Losers include: NXDUSDT (-61.24%), LUFFYUSDT (-33.44%), ONITUSDT (-28.18%).

Futures Market Updates

Activities on Futures markets are cooling off, with the Open Interests (OI) of all cryptocurrencies now recorded at US$4.38 billion, equivalent to a 1.57% decrease. The aggregated futures volume also saw a decrease of 38.70% to US$179 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 still stood at 68% of the total OI, now standing at US$2.98 billion, which is a 1.32% decrease from yesterday. The daily volume of Bitcoin contracts decreased by 29.74% to US$187,320.30. The last cycle of funding rate (-0.0100%) demonstrates a potential buy signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, leaning towards bullish at 61.36%/38.64%. Most BTC long ETFs locked in a significant price increase yesterday, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$40.59 from the opening price of US$40.99.

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