Market updates

Bitget Bites (February 8, 2023)

Beginner

2023-02-08 | 5m

The global market cap is standing at US$1.09 trillion, showing a 2.40% increase from yesterday and the 24-hour volume also went up by 24.13% to US$61.75 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$23,610 and US$22,786 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$23,269, which is a 1.72% increase compared to Ethereum's 3.07% increase.

Altcoin prices are seeing green, with XRP (+1.78%) being the only 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$0.2269 and US$0.2187, respectively.

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The Top 3 Gainers of The Day are Future AI (AI), StaFi (FIS), and Trident (PSI):

1st Place

AIUSDT: Up by 255.10%

Future AI is a fully decentralized, self-managed wallet protocol that grants our investors the ability to easily and securely interact with their tokens, all supported by superior risk analysis and smart contract management tools. AI is trading at a current market price of US$0.07413, having touched a high of US$0.09550 and a low of US$0.01100 in the past 24 hours.

2nd Place

FISUSDT: Up by 66.89%

StaFi protocol is the first decentralized protocol unlocking the liquidity of Staked assets. FIS is trading at a current market price of US$0.7845, having touched a high of US$0.9881 and a low of US$0.6585 in the past 24 hours.

3rd Place

PSIUSDT: Up by 52.47%

Trident is a 2D MMO, procedurally-generated infinite universe video game. PSI is trading at a current market price of US$6.3372, having touched a high of US$7.5000 and a low of US$4.0000 in the past 24 hours.

Meanwhile, the Top 3 Losers include REPUSDT (-11.48%), CUBEUSDT (-11.40%), and OLEUSDT (-11.40%).

Futures Market Updates

Future activities are lukewarm, with the Open Interest (OI) of all cryptocurrencies now recorded at US$3.45 billion, equivalent to a 2.10% 24-hour increase. The aggregated futures volume saw a 31.39% decrease to US$940.12 billion.

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Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance accounts for 66% of the total OI, now standing at US$2.29 billion, which shows a 0.72% increase from yesterday. The daily volume of Bitcoin contracts increased by 12.46% to US$188,867.40. Funding rate of the last cycle stands at 0.0000%.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now bullish at 61.63%/38.37%. Most BTC long ETFs locked in a 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$27.70 from the opening price of US$28.00.