Bitget Hot Takes (January 29 - February 04, 2024) - All About Bitget
Bitget Hot Takes is the exclusive weekly newsletter series by Bitget Academy, which sums up BGB performance, what's new at Bitget, and the latest market movements.
The latest Bitget Hot Takes can be found here: All About Bitget | Market Updates
Central Themes
• BGB crossed US$0.63 on February 02 and is still hovering there.
• BTC went up slightly to US$41.8K - US$43.8K.
• Bitget Markets: average crypto OI is up by 5.4%, Bitcoin OI and spot volume down by 1.2% and 6.1%, respectively.
BGB Crossed US$0.63
After falling to a weekly low of US$0.57, BGB made a (quite smooth) comeback last week: first reaching US$0.62 on the first day of February and maintained the momentum to cross US$0.637 the next day. It has been trading around US$0.63 ever since, resulting in a WoW return of 6.7% compared to Bitcoin's 2% and Ethereum's 1.2%. Meanwhile, BNB and XRP both registered a 2% decrease in the last seven days.
Indicators show that BGB's new accumulation trend began on January 23, around the same time where the RSI flipped from oversold. The rise in BGB prices led to a surge in its 7D volume of 43% to US$173.5 million, hence better liquidity as well. The volume-to-mcap ratio of BGB is now above 0.03, higher than Bitcoin as well as BNB and almost on the same level with Ether. XRP has the highest number, but considering the slight decrease in its value, the situation does not necessarily mean good news.
The Latest Bitget News
Our biggest announcement into 2024 remains the Bitget Card, which is meant to simplify the off-ramp process and normalise the use of crypto in our daily lives thanks to the instant ultra-high USD spending limits! You only need to have some crypto in your Bitget account to start using it! Besides, BGB cashback is soon to be added for Bitget Card holders - be the first to get a Bitget Card and earn more on your spending!
Bitget Card Introduction is available here, together with our tutorial on how to apply for your Bitget Card.
The biggest macro event last week was the FOMC meeting on January 30-31, with the FED deciding to halt its rate hike series. Bitcoin has been trading flat; actually it has inching a little bit higher to US$43.8K prior to the decision, then back and forth around US$43K. Unchanged rates were expected, so there was no dramatic move with regards to BTC prices, thus some minor decreases in terms of Bitget spot volume and Bitcoin OI.
Top daily gainers of the week on Bitget include FIRE/USDT, ZETA/USDT, JUP/USDT, DMAIL/USDT, ORNJ/USDT, ASM/USDT, and OPUL/USDT, with 4 out of 7 being Bitget Initial Listings. New listings for today include PepeFork (PORK) and Janus (JAN) , deposits of which are already opened and trading will begin at 11:00 AM (UTC ) and 2:00 PM (UTC) , respectively!
It's always important to make sure you do not miss first-mover advantages for any poised-for-success tokens, therefore we provide the most comprehensible token intros in a timely manner as follows:
Flare (FLR): The Layer 1 That Facilitates Unparallel Interoperability
De.Fi (DEFI): The First Automated Cross-Chain Decentralized Security Scanner for Smart Contracts
API3 (API3): Decentralized APIs Planning to Replace Third-Party Oracles in Blockchain
Dmail (DMAIL): The First Decentralised Email And Messaging Service
Jupiter (JUP): Unlocking Massive Liquidity on Solana with Simplicity
Matr1x Fire (FIRE): A New Era of Play-to-Own Gaming
New users are so very welcome to invest wisely in crypto by minimising costs. Time the market and make 0-fee crypto purchases on Wednesday and the weekend as Credit/Debit card owners! It's not just limited to newbies, experts can deliberately join, too! Don't forget to check out the great Bitget Reward Center for 5,027 USDT in a welcome bonus and take our limited-time offer for a 50% rebate on crypto purchases. Hurry up, 1,200,000 USDT in rewards is being distributed on a first-come, first-serve basis with participation period EXTENDED TO February 29!
We know that newbies tend to be cautious with their very first transactions (not that we are advising you against that!), for example, by sticking to stables and making purchases of small value. We believe that every baby step counts, therefore why not encourage each baby step with the hottest tokens? US$500,000 in BABYELON, BABYBONK, BGB, SUI, ARB, OP, MANTA, SOL and BTC for all purchases/deposit from 10 USDT! All information can be found here: Buy/Deposit 10 USDT to share US$500,000 in BABYELON, BABYBONK, SUI, BTC more!
Looking for extra earning options on Bitget? Check this out:
• Bitget Savings : New tokens can be added to our savings vaults within days after the listing with up to 100% APR for a limited time! The newly added options are OPUL , GUAC , COREUM and ZETA with up to 60% APR, ELA , OORT , MANTA , MCH and VR with up to 50% APR, and DOME , POKT , AVAV , TSUGT , AVA , and 3ULL with up to 30% APR. Enjoy the Savings Boosts before they are sold out!
• Bitget Launchpool: Similar to Bitget Savings, but it’s for BGB owners to put their holdings to work! Exclusive pools for new users as well!
• Bitget Snowball and Bitget Smart Trend: New subscription period begins every Monday!
• Weekly exclusive earning opportunities: Up to 10% APR on Bitget Wealthy Tuesday
All Bitget Earn guides are available here: Bitget Range Sniper | Bitget Shark Fin | Bitget Dual Investment | Bitget Smart Trend | Bitget Snowball | Bitget Wealth Management
New Events
Buy/Deposit 10 USDT to share US$500,000 in BABYELON, BABYBONK, SUI, BTC more!
Extended! Institutional accounts only: deposit EUR for a free 30-day VIP pass!
JANUS (JAN) will be listed on Bitget. Come and grab a share of 850,000 JAN!
Pepefork (PORK） will be listed on Bitget. Come and grab a share of 18,000,000,000 PORK!
Victoria VR (VR) will be listed on Bitget. Come and grab a share of $60,000 worth of VR!
DGI Games (DGI) will be listed on Bitget. Come and grab a share of 2,800,000 DGI!
ZetaChain(ZETA) listed on Bitget — grab a share of 300,000 ZETA from Launchpool !
Join Bitget x VictoriaVR Community Campaign Now to Claim Your Special $5,000 VR Rewards
Join Bitget x FIRE Community Campaign Now to Claim Your Special $5,000 FIRE Rewards!
Complete spot trading, futures trading, net deposit, and referral tasks on CandyBomb to earn ORNJ!
Complete spot trading, futures trading, and net deposit tasks on CandyBomb to earn JUP!
Complete spot trading, futures trading, net deposit, and referral tasks on CandyBomb to earn BTC!
Complete spot trading, futures trading, and net deposit tasks on CandyBomb to earn ZETA!
Complete spot trading, futures trading, and net deposit tasks on CandyBomb to earn FIRE!
Try out the smart copy mode of Bitget copy trading and grab a share of 22,000 USDT!
Deposit to List: MCH Coin (MCHC) - Deposit and Share 111,111 OAS Rewards!
Good Reads
Hone Your Trading Skills with 0 Risk at Bitget Futures Demo Trading
Shiba Inu (SHIB): The Playful Pup of the Crypto Market
Ethereum and ETH: Navigating the Future of Decentralization and Innovation
Ethereum’s Future: A Glimpse Into What Lies Ahead
Cryptocurrency Prices: An Evolving Landscape in the Digital Age
Understanding Crypto Market Cap: A Comprehensive Guide for Smart Crypto Investing
Bitcoin's Price Skyrockets Above $45,000 and Investors Anticipate the Next Halving in May 2024
Exploring Bitcoin: From Bitcoin Pizza Day to Bitcoin Halving
Bitget Study on BTC Halving: Expectations and Investment Decisions
Prep Yourself For The Upcoming Bitcoin Halving: Investment Tips
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