Bitget Bites (July 20, 2022)

The global market cap is standing at US$1.059T, showing a 3.31% increase from yesterday and the 24-hour volume was down by 6.47% to US$101.41B. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$21,683.41 and US$23,666.96 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$23,473.76, which is a 5.86% increase compared to Ethereum’s 2.16% increase.

There has been an increase in the volume and price of altcoins over the past 24hours, with so many altcoins trading above US$1B, in order of hierarchy we have XRP (+5.23%%), ADA (+9.68%), and SOL (+3.65%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.15033 and US$0.14800, respectively.

The Top 3 Gainers of The Day are Streamcoin (STRM), dydx (DYDX) and Land of conquest (SLG).

1st Place

STRMUSDT: Up by 20.00%

StreamCoin (Ticker: STRM) is a governance token created on the Binance Smart Chain. It uses the Proof of Stake Authority (PoSA) consensus algorithm, a hybrid of Delegated Proof of Stake and Proof of Authority. StreamCoin launched its initial public offering (ICO) on February 1st with an initial price of $0.9. With a current market cap of $70,823,097.27 and trading volume of $13,512,403.36, STRM is trading at a current market price of $0.05625.

2nd place

DYDXUSDT: Up by 17.18%

DYDX (dYdX) is the governance token for the layer 2 protocol of the eponymous non-custodial decentralized cryptocurrency exchange. It serves to facilitate the operation of layer 2 and allows traders, liquidity providers and partners to contribute to the definition of the protocol's future as a community. With a current market cap of $157,598,694.04 and trading volume of $200,274,395.17, dydx is trading at a current market price of $2.40.

3rd Place

SLGUSDT: Up by 14.76%

Land of Conquest is an upcoming MMOSLG game set in an apocalyptic wasteland. As an MMO simulation game, the game offers players many exciting ways to interact, ranging from the production of bases and resources to training heroes up for challenging PvE and PvP battles. With a current trading volume of $5,550,995.69, SLG is trading at acurrent market price of $0.0343.

Meanwhile, the Top 2 Losers include: FIO (-44.43%), FIU (-17.37%) .

Futures Market Updates

The Open Interests (OI) of all cryptocurrencies is going up again, now recorded at US$3.62B, which is equivalent to a 1.40% increase from yesterday and the 24-hours aggregated volume of all contracts at US$265B (-7.99%).

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI accounted for two-thirds of the total outstanding contracts at US$2.38B while the daily volume of Bitcoin contracts only stood at US$303,988.40. The last cycle of funding rate (-0.0100%) demonstrates a buy signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now clearly showing bearish signs at 46.74%/53.26%. Most Bitcoin ETFs experienced an upsurge in both share price and volume. The highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI) ended the day at US$34.11 compared to the opening price of US$36.09.

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