Bitget Bites (October 10, 2022)

Market updates

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2022-10-10 | 5m

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The global market cap is standing at US$937.94 billion, showing a 0.87% decrease from yesterday and the 24-hour volume went down by 37.58% to US$32.42 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$19,552.87 and US$19,371.33 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$19,426.92, which is a 0.38% increase compared to Ethereum’s 1.06% increase.

There has been an overall increase in the price of altcoins over the past 24 hours, with XRP (+3.89%) being the only altcoin in the Top 10 trading above the volume of US$1 billion.

The highest price and lowest price levels of BGB in the last 24 hours were US$0.18487 and US$0.18340 respectively.

Bitget Bites (October 10, 2022) image 0

The Top 3 Gainers of The Day are Land Of Conquest (SLG), DeRace (DERC), and Lingose (LING):

1st Place

SLGUSDT: Up by 9.24%

Land Of Conquest is a blockchain MMOSLG game with both PoE and PvP modes. Its native utility and governance token, SLG, is trading at a current market price of US$0.06140, having touched a high of US$0.11654 and a low of US$0.01685 in the past 24 hours.

2nd Place

DERCUSDT: Up by 5.93%

DeRace offers a full spectrum of metaverse experience for horse-racing fans from horse racing, horse breeding and hippodrome building.. DERC is trading at a current market price of US$0.32685, having touched a high of US$0.35040 and a low of US$0.27078 in the past 24 hours.

3rd Place

LINGUSDT: Up by 5.23%

Lingose is a game ID system that verifies users via their on-chain activities. LING is trading at a current market price of US$0.011287, having touched a high of US$0.011412 and a low of US$0.009991 in the past 24 hours.

Meanwhile, the Top 3 Losers include: VISIONUSDT (-35.41%), KOKUSDT (-25.02%), and VOLTUSDT (-18.48%).

Futures Market Updates

Activities on Futures markets are contracting, with the Open Interest (OI) of all cryptocurrencies now recorded at US$5.52 billion, equivalent to a 2.41% 24-hour increase. The aggregated futures volume also saw an increase of 4.03% to US$155 billion from yesterday.

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Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance accounts for 68% of the total OI, now standing at US$3.76 billion, which is a 3.30% increase from yesterday. The daily volume of Bitcoin contracts decreased by 2.48% to US$113,108.80. The last cycle of funding rate (+0.0100%) demonstrates a neutral signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, slightly bullish at 53.63%/46.37%. 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$38.23 from the opening price of US$37.89.