Bitget Bites (August 31, 2022)

The global market cap is standing at US$996.19 billion, showing a 1.49% increase from yesterday and the 24-hour volume was up by 16.91% to US$75.47 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$19,617.64 and US$20,542.64 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$20,392.77, which is a 2.72% increase compared to Ethereum’s 5.3% increase.

There has also been an increase (+14.83%) 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 (+0.14%), XRP (+0.02%), and ADA (+2.06%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.15807 and US$0.15240, respectively.

The Top 3 Gainers of The Day are Lido DAO (LDO), Celsius (CEL), and Optimism (OP).

1st Place

LDOUSDT: Up by 15.78%

Lido is a DAO that offers a liquid staking service for Ethereum 2.0, allowing users to earn staking rewards while not having to maintain staking infrastructure. With a current market cap of US$647,212,601.39 and 24 hour trading volume of US$512,105.76, touching a high of US$2.1581 and a low of US$1.7162 in the past 24 hours, LDO is trading at a current market price of US$2.0789.

2nd Place

CELUSDT: Up by 9.66%

Celsius is an all-in-one banking and financial services platform for cryptocurrency users, Users of the platform receive regular payouts and interest on their holdings. CEL is the native token of Celsius. With a current market cap of US$283,611,748.57 and a 24-hour trading volume of US$268,170.53, touching a high of US$1.2440 and a low of US$1.0565 in the past 24 hours, CEL is trading at a current market price of US$1.0565.

3rd Place

OPUSDT: Up by 8.00%

Built on Ethereum, Optimism (OP) is a layer-two blockchain. Using optimistic rollups, optimism benefits from the security of the Ethereum mainnet and helps scale the Ethereum ecosystem. That is, transactions are recorded trustlessly on Optimism but ultimately secured on Ethereum. With a current market cap of US$275,764,840.62 and a 24 hour trading volume of US$87,029.15, touching a high of US$1.2138 and a low of US$1.0600 in the past 24 hours, OP is trading at a current market price of US$1.1689.

Meanwhile, the Top 3 Losers include: TRYBUSDT (-88.35%), USDSPUSDT (-78.62%) and ONITUSDT (-41.57%).

Futures Market Updates

Activities on Futures markets are cooling off with the Open Interests (OI) of all cryptocurrencies now recorded at US$4.18 billion, equivalent to a 1.88% decrease from yesterday. However, the aggregated futures volume saw an increase of 17.07% to US$192 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 rose to 70% of the total OI, now standing at US$2.94 billion, a 1.03% increase from the previous day. The daily volume of Bitcoin contracts increased by 28.41% to US$243,551.80. The last cycle of funding rate (+0.0100%) demonstrates a neutral signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, leaning towards bearish at 49.75%/50.25%. Most BTC long ETFs locked in a significant price decrease yesterday, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$38.97 from the opening price of US$38.01.

Interesting Topics

The Ultimate Guide to Bitget's One-Click Copy Trade

Crypto is Going Mainstream: Learn How to Launch it in Your Own Product

WOO Network (WOO) Introduction

Follow Us For More Insights: Twitter | Telegram | LinkedIn | Facebook | Instagram