Bitget Bites (September 19, 2022)

The global market cap is standing at US$909.33 billion, showing a 6.48% decrease from yesterday but the 24-hour volume was up by 47.54% to US$70.82 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$18,763.07 and US$20,087.51 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$18,824.42, which is a 5.96% decrease compared to Ethereum’s 10.33% decrease.

There has also been an increase (+27.76%) 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 (-5.91%), XRP (-6.45%), and ADA (-9.08%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.17450 and US$0.17122, respectively.

The Top 2 Gainers of The Day are Seek Tiger (STI), Zebec Protocol (ZBC).

1st Place

STIUSDT: Up by 97.23%

Seek Tiger, a decentralized chain game aggregation platform, is committed to creating a GameFi chain game aggregation platform based on the concept of Web 3.0, integrating smart contract constraints and Dao voting governance for global users. With a 24-hour trading volume of US$22,880.40, touching a high of US$0.021128 and a low of US$0.017130 in the past 24 hours, STI is trading at a current market price of US$0.017167.

2nd Place

ZBCUSDT: Up by 21.36%

Zebec is a continuous Settlement Protocol that will transform payroll, cash flow, and token vesting by allowing users to send payments and distributions every second. With a 24-hour trading volume of US$168,397.58, touching a high of US$0.011590 and a low of US$0.010959 in the past 24 hours, ZBC is trading at a current market price of US$0.011037.

Meanwhile, the Top 3 Losers include: ETHWUSDT (-34.68%), AFKUSDT (-30.46%), and PPADUSDT (-8.83%)

Futures Market Updates

Activities on Futures markets cool off from the weekend, with the Open Interests (OI) of all cryptocurrencies now recorded at US$4.09 billion, equivalent to a 4.66% decrease. However the aggregated futures volume saw an increase of 35.68% to US$251 billion from yesterday.

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance remained at 68% of the total OI, now standing at US$2.78 billion, which is a 5.12% decrease from yesterday. The daily volume of Bitcoin contracts increased by 66.43% to US$199,203.70. The last cycle of funding rate (+0.0100%) demonstrates a neutral signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, bearish at 43.96%/56.04%. Most BTC long ETFs also locked in a price decrease on Friday, except for the highly anticipated ProShares’ BTCUSDT">BTCUSDT">Short Bitcoin Strategy ETF (BITI), which closed the day at US$38.20 from the opening price of US$38.00.

Interesting Topics

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