Bitget Bites (February 2, 2023)

The global market cap is standing at US$1.09 trillion, showing a 3.90% increase from yesterday and the 24-hour volume also went up by 32.53% to US$61.79 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$24,196 and US$22,697 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$23,897.91319255584, which is a 3.51% increase compared to Ethereum's 5.80% increase.

Altcoin prices are seeing green, with XRP (+2.76%) and DOGE (+1.30%) 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$0.2224 and US$0.2102, respectively.

The Top 3 Gainers of The Day are MoonDAO (MOONEY), Status (SNT), and Nym (NYM):

1st Place

MOONEYUSDT: Up by 15.06%

MoonDAO represents a decentralized, international, inclusive, and transparent approach to space exploration. MOONEY is trading at a current market price of US$0.005508, having touched a high of US$0.005531 and a low of US$0.00415 in the past 24 hours.

2nd Place

SNTUSDT: Up by 12.92%

Status, or SNT, is an open-source messaging platform as well as a mobile interface. SNT is trading at a current market price of US$0.03695, having touched a high of US$0.03962 and a low of US$0.0272 in the past 24 hours.

3rd Place

NYMUSDT: Up by 10.38%

Nym is the next generation of privacy infrastructure that can prevent sensitive data leakage by protecting every packet's metadata at the network and application layers. NYM is trading at a current market price of US$0.3177, having touched a high of US$0.3298 and a low of US$0.28 in the past 24 hours.

Meanwhile, the Top 3 Losers include THEUSDT (-20.09%), RLYUSDT (-17.24%), and HIGHUSDT (-14.35%).

Futures Market Updates

Future activities are warming up, with the Open Interest (OI) of all cryptocurrencies now recorded at US$3.21 billion, equivalent to a 1.31% 24-hour increase. The aggregated futures volume saw a 7.00% increase to US$374 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$2.13 billion, which shows a 0.90% increase from yesterday. The daily volume of Bitcoin contracts increased by 23.61% to US$221,739.18. Funding rate of the last cycle stands at 0.0000%.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now bearish at 38.52%/61.48%. Most BTC long ETFs locked in a price increase 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$27.15 from the opening price of US$27.80.

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