Bitget Bites (November 14, 2022)

The global market cap is standing at US$809.89 billion, showing a 4.61% decrease from yesterday but the 24-hour volume went up by 12.49% to US$60.82 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$16,920.77 and US$15,977.38 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$16,130.77, which is a 4.40% increase compared to Ethereum’s 6.01% increase.

Altcoin prices are seeing green, with BNB (+4.83%) and XRP (+9.26%) being the two altcoins 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$0.1879 and US$0.1761, respectively.

The Top 3 Gainers of The Day are X2Y2 (X2Y2), Italian Football Federation Fan Token (ITA), and Chain Token (XCN):

1st Place

X2Y2USDT: Up by 89.57%

X2Y2 r1 will be a full-featured NFT market at its launch with 100% independently developed smart contract, frontend, and backend. X2Y2 is trading at a current market price of US$0.03365, having touched a high of US$0.04223 and a low of US$0.01752 in the past 24 hours.

2nd Place

DAOUSDT: Up by 41.17%

DAO Maker is a platform that aims to redefine venture capital for the masses, by providing scalable technologies and funding support to tokenized startups. DAO is trading at a current market price of US$1.1999, having touched a high of US$1.1999 and a low of US$0.7203 in the past 24 hours.

3rd Place

XENUSDT: Up by 20.52%

XEN aims to empower the individual No-pre-mint, No-Admin-Keys-Immutable-Contract, No-listings-on-CEXs, Starts-with-zero-supply. XEN is trading at a current market price of US$0.00001157, having touched a high of US$0.0.00001181 and a low of US$0.00000921 in the past 24 hours.

Meanwhile, the Top 2 Losers include GOOUSDT (-33.67%) and SRMUSDT (-31.57%).

Futures Market Updates

Futures activities are cooling down, with the Open Interest (OI) of all cryptocurrencies now recorded at US$3.32 billion, equivalent to a 11.26% 24-hour decrease. The aggregated futures volume saw an increase of 27.80% to US$500 billion.

Bitcoin remained the most popular underlying asset for Futures traders and, without a doubt, the most liquid market: Bitcoin OI Dominance accounts for 66% of the total OI, now standing at US$2.18 billion, which shows a 11.81% decrease from yesterday. The daily volume of Bitcoin contracts decreased by 52.01% to US$187,579.30. 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 46.85%/53.15%. Most BTC long ETFs locked in a slight price increase yesterday, but that’s not the case for the highly anticipated ProShares’ BTCUSDT">BTCUSDT">Short Bitcoin Strategy ETF (BITI), which closed the day at US$43.16 from the opening price of US$43.56.

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