Bitget Bites (December 23, 2022)

The global market cap is standing at US$814 billion, showing a 0.38% increase from yesterday and the 24-hour volume also went up by 16.55% to US$29.60 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$16,885.88 and US$16,599.91 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$16,861.51, which is a 0.07% increase compared to Ethereum's 0.79% increase.

Altcoin prices are seeing green, with no altcoin 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$0.1954 and US$0.1869, respectively.

The Top 3 Gainers of The Day are Synapse (SYN), pSTAKE (PSTAKE), and StreamCoin (STRM):

1st Place

SYNUSDT: Up by 9.07%

Synapse is an interoperability protocol designed for safely and securely sending arbitrary data between blockchains. SYN is trading at a current market price of US$0.5531, having touched a high of US$0.5825 and a low of US$0.4236 in the past 24 hours.

2nd Place

PSTAKEUSDT: Up by 7.49%

pSTAKE is a liquid staking solution that unlocks the true potential of PoS tokens by unlocking liquidity of staked assets. PSTAKE is trading at a current market price of US$0.6697, having touched a high of US$0.06745 and a low of US$0.05955 in the past 24 hours.

3rd Place

STRMUSDT: Up by 5.59%

StreamCoin is built to power the ecosystem of live streaming platforms by providing new and unique features. STRM is trading at a current market price of US$0.0151, having touched a high of US$0.0152 and a low of US$0.0134 in the past 24 hours.

Meanwhile, the Top 3 Losers include BTTUSDT">CSTUSDT (-34.06%), CMPUSDT (-15.36%), and KINUSDT (-13.85%).

Futures Market Updates

Future activities are warming up, with the Open Interest (OI) of all cryptocurrencies now recorded at US$3.66 billion, equivalent to a 3.71% 24-hour increase. The aggregated futures volume saw a 45.90% increase to US$352 billion.

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance accounts for 68% of the total OI, now standing at US$2.50 billion, which shows a 4.64% increase from yesterday. The daily volume of Bitcoin contracts increased by 20.21% to US$172,760.25. 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 43.0%/57.0%. Most BTC long ETFs locked in a price increase yesterday, same goes for the highly anticipated ProShares' Short Bitcoin Strategy ETF (BITI), which closed the day at US$39.77 from the opening price of US$39.74.

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