Bitget Bites (August 18, 2022)

The global market cap is standing at US$1.120 trillion, showing a 2.70% decrease from yesterday but the 24-hour volume was up by 12.95% to US$72.28 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$23,243.35 and US$24,407.06 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$23,441.99, which is a 3.01% decrease compared to Ethereum’s 3.80% decrease.

There has also been a decrease (-22.05%) 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 some altcoins trading above the volume of US$1 billion, in order of market cap and volume we have BNB (-4.61%), XRP (-3.12%), and ADA (-6.66%).

The highest price and lowest price levels of BGB in the last 24 hours were US$0.16133 and US$0.15722, respectively.

The Top 3 Gainers of The Day are ABBC Coin (ABBC), Flux (FLUX), and MOON DAO (MOONEY).

1st Place

ABBCUSDT: Up by 18.62%

ABBC is a technology optimized for distribution, finance, shopping, security, using blockchain technology. With a current market cap of $277,818,940.82 and a trading volume of $30,508,247.94, ABBC is trading at a current market price of $0.2762.

2nd Place

FLUXUSDT: Up by 13.79%

Flux is an open-source, community driven and independent project without any outside investors. As such $Flux is fairly distributed without any pre-mined coins or distributions for others than holders, miners and node operators. With a current market cap of $273,999,089.33 and a trading volume of $59,707,383.68, FLUX is trading at a current market price of $1.06.

3rd Place

MOONEYUSDT: Up by 9.83%

MoonDAO represents a decentralized, international, inclusive, and transparent approach to space exploration. As part of MoonDAOs mission, we will send MoonDAO members to space and beyond, as well as fund space research and further humanities exploration of the unknown. With a current trading volume of $864,647.43, MOONEY is trading at a current market price of $0.009731.

Meanwhile, the Top 3 Losers include: FIOUSDT (-27.35%), XDCUSDT (-24.88%), and USDSPUSDT (-24.85%).

Futures Market Updates

Activities on Futures markets are slowly increasing, with the Open Interests (OI) of all cryptocurrencies now recorded at US$4.41 billion, equivalent to a 0.45% decline from yesterday.

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance rose to 67% of the total OI at US$2.94B, the daily volume of Bitcoin contracts also increased by 14.94% to US$185,129.10. The last cycle of funding rate (+0.0100%) demonstrates a neutral signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, currently bullish at 60.94%/39.06%. 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$33.64 from the opening price of US$33.14.

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