Bitget Bites (January 16, 2023)

The global market cap is standing at US$994 billion, showing a 2.51% increase from yesterday but the 24-hour volume went down by 29.46% to US$47.44 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$21,446 and US$20,586 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$21,108, which is a 2.13% increase compared to Ethereum's 3.03% increase.

Altcoin prices are continuing their weekend rally, with no altcoin in the Top 10 trading above the volume of US$1 billion.

The highest price and lowest price levels of BGB in the last 24 hours were US$0.2020 and US$0.1929, respectively.

The Top 3 Gainers of The Day are Celo (CELO), Voyager Token (VGX), and Caduceus (CMP):

1st Place

CELOUSDT: Up by 18.01%

Celo is a blockchain ecosystem focused on increasing cryptocurrency adoption among smartphone users. CELO is trading at a current market price of US$0.7467, having touched a high of US$0.7753 and a low of US$0.6138 in the past 24 hours.

2nd Place

VGXUSDT: Up by 12.5%

Voyager Token, is a cryptocurrency broker that provides investors with a trusted and secure access point to crypto asset trading. VGX is trading at a current market price of US$0.4383, having touched a high of US$0.503 and a low of US$0.3775 in the past 24 hours.

3rd Place

CMPUSDT: Up by 9.98%

Caduceus is the Metaverse protocol for decentralized edge rendering, an infrastructure-level open blockchain platform specifically built for the metaverse and the decentralized digital world. CMP is trading at a current market price of US$0.1236, having touched a high of US$0.13176 and a low of US$0.106 in the past 24 hours.

Meanwhile, the Top 3 Losers include VRAUSDT (-25.07%), ATMUSDT (-14.71%), and INTERUSDT (-14.29%).

Futures Market Updates

Future activities are lukewarm, with the Open Interest (OI) of all cryptocurrencies now recorded at US$4.57 billion, equivalent to a 4.20% 24-hour increase. The aggregated futures volume saw a 11.65% decrease to US$658 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$3.08 billion, which shows a 3.59% increase from yesterday. The daily volume of Bitcoin contracts decreased by 6.24% to US$234,099.49. 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 43.68%/56.32%. Most BTC long ETFs locked in a price increase last Friday, but that's not the case for the highly anticipated ProShares' BTCUSDT">BTCUSDT">Short Bitcoin Strategy ETF (BITI), which closed the day at US$33.34 from the opening price of US$34.29.

Interesting Topics

The Ultimate Guide to Bitget Spot Copy Trading

Trading 101: What is Margin Trading?

Trading 101: What is Futures Trading?

Trending Events

[Big Bomb!] Bitget Spot Copy Trading Feature is now Live: Come to Grab a Share of 10,000 USDT

Sign Up Now! Share $200,000 Bonus

Publish Your Strats - Share Up to 12k USDT in Bonuses!

Bitget x Jesse Promotion: Share $30,000 in Trading Bonuses!

1,000,000 BGB Benefits! Refer Friends to Win your share!

Join Bitget Global Telegram Group (New), Win 5500 USDT

Rewards Galore! Trading Bonuses 90,000 BGB!

Bitget Will List Chrono.tech (TIME) in the Innovation Zone - Share $10,000 Worth of Rewards!

Bitget Launchpool is LIVE: $50,000 in TIME Prize to Win Starred with Chrono.tech (TIME)!

Bitget Will List Gains Network (GNS) in the Innovation Zone - Share $10,000 Worth of Rewards!

VIP Earn Rewards for New Year: 3x APR, Free VIP Privileges!

Anybody can be a Merchant on Bitget P2P and Earn 125$ in Weekly rewards!

Bitget Elite Recruitment!

Try out Spot Margin Trading and Get an Airdrop

Broker’s Special - 100% Rebate for Limited Time Only!

Join Bitget Discord and Participate in the New Weekly Genghis Reward, Win BGB

Get 3$ Free on your first P2P trade on Bitget P2P!

[Bitget VIP] Free To Claim Your New Year Gifts

Hero Trader Awards 2022 is Live! Vote to Win Limited Edition NFTs!

Bitget Partners with TealStreet; Plus, Register, trade for up to $8000 bonus！

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