Bitget Bites (November 10, 2022)

The global market cap is standing at US$823.17 billion, showing a 8.71% decrease from yesterday and the 24-hour volume went down by 11.26% to US$189.51 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$18,492.29 and US$15,682.69 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$16,455.89, which is a 9.52% decrease compared to Ethereum’s 10.13% decrease.

Altcoin prices are still in the red, with BNB (-12.59%), XRP (-9.44%), ADA (-4.37%), DOGE (-5.98%) and MATIC (-10.76%) being the five altcoins in the Top 10 trading above the volume of US$1 billion.

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.1956 and US$0.1750, respectively.

The Top 3 Gainers of The Day are MagicCraft (MCRT), Art Gobblers Goo (GOO), and Ampleforth (AMPL):

1st Place

MCRTUSDT: Up by 66.62%

MagicCraft is a massive PvP battle league and Castle Siege game launched on Binance Smart Chain. MCRT is trading at a current market price of US$0.005999, having touched a high of US$0.007196 and a low of US$0.003500 in the past 24 hours.

2nd Place

GOOUSDT: Up by 38.79%

Art Gobblers is a decentralised art factory owned by aliens gobbling on human arts. GOO is trading at a current market price of US$13.92, having touched a high of US$20.06 and a low of US$6.31 in the past 24 hours.

3rd Place

AMPLUSDT: Up by 25.99%

Ampleforth is an Ethereum-based cryptocurrency with an algorithmically adjusted circulating supply. AMPL is trading at a current market price of US$0.9580, having touched a high of US$0.9848 and a low of US$0.7205 in the past 24 hours.

Meanwhile, the Top 3 Losers include FTTUSDT (-72.34%), CYCLUBUSDT (-47.47%), and SOLUSDT (-41.98%).

Futures Market Updates

Futures activities are cooling down, with the Open Interest (OI) of all cryptocurrencies now recorded at US$4.13 billion, equivalent to a 7.81% 24-hour decrease. The aggregated futures volume saw a slight decrease of 3.83% to US$520 billion.

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance accounts for 66% of the total OI, now standing at US$2.74 billion, which shows a 8.05% decrease from yesterday. The daily volume of Bitcoin contracts decreased by 10.25% to US$480,140.20. Funding rate of the last cycle stands at 0.0000%.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now slightly bearish at 44.95%/55.05%. Most BTC long ETFs locked in a price decrease yesterday, but that’s not the case for the highly anticipated ProShares’ BTCUSDT">BTCUSDT">Short Bitcoin Strategy ETF (BITI), which closed the day at US$45.33 from the opening price of US$41.64.

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