Bitget Bites (August 11, 2022)

The global market cap is standing at US$1.153 trillion, showing a 6.70% increase from yesterday and the 24-hour volume was up by 28.94% to US$76.28 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$22,858.17 and US$24,629.21 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$24,590.25, which is a 7.44% increase compared to Ethereum’s 13.18% increase.

There has also been an increase (+15.08%) 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 some altcoins trading above the volume of US$1 billion, in order of market cap and volume we have BNB (+4.50%), XRP (+5.76%), and ADA (+6.52%).

The highest price and lowest price levels of BGB in the last 24 hours were US$0.17350 and US$0.16900, respectively.

The Top 3 Gainers of The Day are Golem (GLM), iExec Rlc (RLC), and UFO gaming (UFO).

1st Place

GLMUSDT: Up by 34.06%

GLM is an Ethereum token that allows users to pay or receive payment for resources via the Golem protocol. The protocol aims to allow participants in the network to loan out their computer's spare processing power to others. With a current market cap of $359,097,179.24 and a trading volume of $208,860,284.49, GLM is trading at a current market price of $0.1008.

2nd Place

RLCUSDT: Up by 31.39%

RLC is an Ethereum token for the first decentralised marketplace for cloud resources, iExec. The platform enables people to rent and monetise computing power and data by creating a distributed infrastructure. Developers can borrow computations on the network while providers can lend their computing power. With a current market cap of $126,299,557.84 and a trading volume of $139,724,720.96, RLC is trading at a current market price of $0.5531.

3rd Place

UFOUSDT: Up by 21.44%

UFO Gaming is a fully decentralized gaming platform connecting customary games onto the blockchain and enabling players to procure while playing. Blockchain. P2E. Metaverse. virtual land. NFT gaming. UFO is the primary utility token of the Dark Metaverse. In The Dark Metaverse, each game will represent its own planet. With a current market cap of $95,128,719.47 and a trading volume of $7,557,983.02, UFO is trading at a current market price of $0.000003698.

Meanwhile, the Top 3 Losers include: DAOUSDT (-99.98%), AFKUSDT (-25.60%), and NXDUSDT (-18.15%).

Futures Market Updates

Activities on Futures markets are slowly increasing, with the Open Interests (OI) of all cryptocurrencies now recorded at US$4.17 billion, equivalent to a 1.46% increase from yesterday. The 24-hours aggregated volume of all contracts is standing at US$237 billion (+17.91%).

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance rose to 66% of the total OI at US$2.70B, the daily volume of Bitcoin contracts also increased by 8.08% to US$204,896.40. The last cycle of funding rate (+0.0023%) demonstrates a mild sell signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, currently bullish at 62.09%/37.91%. Most BTC long ETFs locked in a price decrease, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$33.09 from the opening price of US$32.27.

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