Bitget Bites (November 30, 2022)

The global market cap is standing at US$856 billion, showing a 3.67% increase from yesterday and the 24-hour volume also went up by 8.55% to US$48.28 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$17,024.13 and US$16,272.73 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$16,938.79, which is a 4.07% increase compared to Ethereum's 7.39% increase.

Altcoin prices are seeing green, with XRP (+4.91%) and DOGE (+5.20%) 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$0.2030 and US$0.1915, respectively.

The Top 3 Gainers of The Day are LeverFi (LEVER), Injective (INJ), and X2Y2 (X2Y2):

1st Place

LEVERUSDT: Up by 12.26%

LeverFi, formerly known as RAMP DEFI, is a decentralised leverage trading platform. LEVER is trading at a current market price of US$0.002068, having touched a high of US$0.002076 and a low of US$0.001782 in the past 24 hours.

2nd Place

INJUSDT: Up by 11.61%

Injective is an open, interoperable layer-one blockchain for building powerful DeFi applications. INJ is trading at a current market price of US$1.787, having touched a high of US$1.804 and a low of US$1.567 in the past 24 hours.

3rd Place

X2Y2USDT: Up by 9.84%

X2Y2 r1 will be a full-featured NFT market at its launch with 100% independently developed smart contract, frontend, and backend. X2Y2 is trading at a current market price of US$0.04787, having touched a high of US$0.04809 and a low of US$0.0383 in the past 24 hours.

Meanwhile, the Top 3 Losers include GOOUSDT (-15.13%), AURYUSDT (-13.14%), and QRDOUSDT (-10.45%).

Futures Market Updates

Future activities are warming up, with the Open Interest (OI) of all cryptocurrencies now recorded at US$4.26 billion, equivalent to a 13.43% 24-hour increase. The aggregated futures volume saw a 82.28% increase to US$419 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$2.80 billion, which shows a 12.12% increase from yesterday. The daily volume of Bitcoin contracts increased by 17.96% to US$210,179.27. Funding rate of the last cycle stands at 0.000%.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now bearish at 41.47%/58.53%. 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$41.24 from the opening price of US$41.54.

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