Bitget Bites (January 30, 2023)

The global market cap is standing at US$1.08 trillion, showing a 1.86% increase from yesterday and the 24-hour volume also went up by 23.81% to US$49.67 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$23,920 and US$23,175 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$23,679, which is a 2.16% increase compared to Ethereum's 2.70% increase.

Altcoin prices are seeing green, with ADA (+0.46%) and DOGE (+0.19%) being the 2 altcoins in the Top 10 trading above the volume of US$1 billion.

The highest price and lowest price levels of BGB in the last 24 hours were US$0.222 and US$0.213, respectively.

The Top 3 Gainers of The Day are League of Kingdoms (LOKA), HIGH Token (HIGH), and MOBOX (MBOX):

1st Place

LOKAUSDT: Up by 22.87%

League of Kingdoms is a blockchain-based Massively Multiplayer Online (MMO) strategy game. LOKA is trading at a current market price of US$0.7516, having touched a high of US$0.8513 and a low of US$0.5013 in the past 24 hours.

2nd Place

HIGHUSDT: Up by 22.65%

HIGH Token (Highstreet) is a native token of a decentralized commerce-centric play-to-earn metaverse built with virtual reality (VR) support. HIGH is trading at a current market price of US$3.4286, having touched a high of US$3.9248 and a low of US$1.3091 in the past 24 hours.

3rd Place

MBOXUSDT: Up by 12.53%

MOBOX Protocol combines the best of yield farming DeFi with Gaming NFTs creating a truly free to play and play to earn ecosystem. MBOX is trading at a current market price of US$0.6331, having touched a high of US$0.6763 and a low of US$0.5172 in the past 24 hours.

Meanwhile, the Top 3 Losers include TAMAUSDT (-15.83%), PRIMALUSDT (-11.76%), and DARUSDT (-7.33%).

Futures Market Updates

Future activities are warming up, with the Open Interest (OI) of all cryptocurrencies now recorded at US$3.23 billion, equivalent to a 5.18% 24-hour increase. The aggregated futures volume saw a 50.55% decrease to US$272 billion.

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance accounts for 65% of the total OI, now standing at US$2.13 billion, which shows a 4.98% increase from yesterday. The daily volume of Bitcoin contracts increased by 58.46% to US$215,749.35. 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 49.28%/50.72%. Most BTC long ETFs locked in a price increase last Friday, but that's not the case for the highly anticipated ProShares' BTCUSDT">BTCUSDT">Short Bitcoin Strategy ETF (BITI), which closed the day at US$27.77 from the opening price of US$27.98.

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