Bitget Bites (September 16, 2022)

The global market cap is standing at US$960.92 billion, showing a 2.61% decrease from yesterday but the 24-hour volume was up by 4.02% to US$82.50 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$19,625.22 and US$20,318.17 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$19,784.16, which is a 1.10% decrease compared to Ethereum’s 7.86% decrease.

There has also been a decrease (-25.78%) in the volume of our spot market. There has been a decrease in the volume and price of altcoins over the past 24 hours, with few altcoins trading above the volume of US$1 billion, in order of market cap and volume we have BNB (-0.38%), XRP (-3.33%), and ADA (-0.33%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.17550 and US$0.16909, respectively.

The Top 3 Gainers of The Day are ETHPoW (ETHW), Terra Classic (LUNC), and Portugal National Team fan token (POR).

1st Place

ETHWUSDT: Up by 20.74%

EthereumPoW (ETHW) is a potential hard fork of Ethereum blockchain with the upcoming Ethereum Merge. With a 24-hour trading volume of US$2,600,260.53, touching a high of US$22.594 and a low of US$9.023 in the past 24 hours, ETHW is trading at a current market price of US$12.56.

2nd Place

LUNCUSDT: Up by 12.00%

Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. With a 24-hour trading volume of US$1,374,715.43, touching a high of US$0.0000301691 and a low of US$0.000240589 in the past 24 hours, LUNC is trading at a current market price of US$0.000294.

3rd Place

PORUSDT: Up by 8.23%

Portugal National Team Fan Token (POR) is a cryptocurrency and operates on the Chiliz platform. With a 24-hour trading volume of US$135,119.36, touching a high of US$5.033 and a low of US$4.198 in the past 24 hours, POR is trading at a current market price of US$4.74.

Meanwhile, the Top 3 Losers include: ONI TUSDT (-37.96%), AFKUSDT (-30.50%), and SWEATUSDT (-27.59%)

Futures Market Updates

Activities on Futures markets are cooling off, with the Open Interests (OI) of all cryptocurrencies now recorded at US$4.1 billion, equivalent to a 4.42% decrease. The aggregated futures volume also saw a decrease of 0.49% to US$203 billion from yesterday.

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance decreased to 68% of the total OI, now standing at US$2.79 billion, which is a 5.74% decrease from yesterday. The daily volume of Bitcoin contracts decreased by 1.34% to US$192,048.80. The last cycle of funding rate (+0.0100%) demonstrates a neutral signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, bearish at 47.27%/52.73%. Most BTC long ETFs also locked in a price decrease yesterday, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$37.91 from the opening price of US$37.48.

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