Bitget Bites (September 14, 2022)

The global market cap is standing at US$998.78 billion, showing a 5.82% decrease from yesterday but the 24-hour volume was up by 13.06% to US$101.20 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$20,062.67 and US$22,673.82 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$20,306.27, which is a 0.72% increase compared to Ethereum’s 2.51% increase.

There has also been a significant increase (+33.72%) 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 few altcoins trading above the volume of US$1 billion, in order of market cap and volume we have BNB (-4.15%), XRP (-5.14%), and ADA (-5.12%).

The highest price and lowest price levels of BGB in the last 24 hours were US$0.17070 and US$0.16675, respectively.

The Top 3 Gainers of The Day are Sweat Economy (SWEAT), Evmos (EVMOS), and Luffy (LUFFY).

1st Place

SWEATUSDT: Up by 20.81%

Sweatcoin is a highly popular mobile fitness app that was first launched in 2016. With over 110 million users worldwide, the app sets out to motivate healthier living by rewarding users for daily physical activity. With a 24-hour trading volume of US$446,364.15, touching a high of US$0.070972 and a low of US$0.007143 in the past 24 hours, SWEAT is trading at a current market price of US$0.054202.

2nd Place

EVMOSUSDT: Up by 12.03%

Evmos is an Inter-Blockchain Communication protocol, a.k.a. IBC; the IP layer for blockchains. IBC is currently the safest and most secure and decentralized way to move assets across different blockchains, unlocking interoperability across multiple chains. With a 24-hour trading volume of US$146,999.69, touching a high of US$3.3291 and a low of US$2.5847 in the past 24 hours, EVMOS is trading at a current market price of US$2.5847.

3rd Place

LUFFYUSDT: Up by 11.27%

Luffy is a community-driven token that was first built on the most secure and well-established blockchain, "The Ethereum Network," allowing investors and fans to stay decentralized. With a current market cap of US$18,336,771.64 and a 24-hour trading volume of US$34,988.89, touching a high of US$0.000000000310 and a low of US$0.000000000266 in the past 24 hours, LUFFY is trading at a current market price of US$0.000000000270.

Meanwhile, the Top 3 Losers include: FIOUSDT (-50.42%), GLMUSDT (-30.78%), and SKEBUSDT (-28.43)

Futures Market Updates

Activities on Futures markets continue to cool off, with the Open Interests (OI) of all cryptocurrencies now recorded at US$4.23 billion, equivalent to a 8.24% decrease. The aggregated futures volume also saw a decrease of 9.40% to US$289 billion from yesterday.

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance increased to 69% of the total OI, now standing at US$2.90 billion, which is a 7.94% decrease from yesterday. The daily volume of Bitcoin contracts increased by 70.20% to US$297,001.70. The last cycle of funding rate (-0.0066%) demonstrates a mild buy signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, bearish at 41.55%/58.45%. Most BTC long ETFs also locked in a significant price decrease yesterday, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$36.95 from the opening price of US$35.34.

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