Bitget Bites (December 26, 2022)

The global market cap is standing at US$812 billion, showing a 0.06% increase from yesterday and the 24-hour volume also went up by 36.94% to US$22.25 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$16,907.15 and US$16,715 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$16,886.46, which is a 0.23% increase compared to Ethereum's 0.14% decrease.

Altcoin prices are seeing red and 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$0.1869 and US$0.1846, respectively.

The Top 3 Gainers of The Day are Akropolis (AKRO), Ren (REN), and Oasys (OAS):

1st Place

AKROUSDT: Up by 45.28%

Akropolis is a company that operates an Ethereum-based decentralized finance protocol that seeks to provide an autonomous financial ecosystem for saving and growing wealth, including through borrowing and lending. AKRO is trading at a current market price of US$0.0037894, having touched a high of US$0.0095759 and a low of US$0.0026073 in the past 24 hours.

2nd Place

RENUSDT: Up by 13.44%

Ren (REN) is an open protocol built to provide interoperability and liquidity between different blockchain platforms. REN is trading at a current market price of US$0.06401, having touched a high of US$0.072545 and a low of US$0.054943 in the past 24 hours.

3rd Place

OASUSDT: Up by 10.89%

Oasys Architecture is built for game developers, offering a high-speed, zero gas fee experience to users by combining the best of public L1 and private L2 blockchain technology solutions. OAS is trading at a current market price of US$0.05047, having touched a high of US$0.05057 and a low of US$0.04524 in the past 24 hours.

Meanwhile, the Top 3 Losers include GEARUSDT (-18.14%), AFKUSDT (-17.60%), and DREPUSDT (-17.54%).

Futures Market Updates

Future activities are cooling down, with the Open Interest (OI) of all cryptocurrencies now recorded at US$3.59 billion, equivalent to a 3.93% 24-hour decrease. The aggregated futures volume saw a 35.61% decrease to US$173 billion.

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance accounts for 67% of the total OI, now standing at US$2.44 billion, which shows a 3.68% decrease from yesterday. The daily volume of Bitcoin contracts increased by 46.55% to US$111,706.06. 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 49.26%/50.74%. Most BTC long ETFs locked in a price increase last Friday, but that's not the case for the highly anticipated ProShares' Short Bitcoin Strategy ETF (BITI), which closed the day at US$39.59 from the opening price of US$39.68.

Interesting Topics

Comprehensive Manual to Bitget MegaSwap

Is A Santa Claus Rally Planned For Bitcoin In 2022?

What is P2P Trading?

Follow Us For More Insights: Twitter | Telegram | LinkedIn | Facebook | Instagram