Bitget Bites (December 14, 2022)

The global market cap is standing at US$873 billion, showing a 2.87% increase from yesterday and the 24-hour volume also went up by 59.85% to US$53.26 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$17,942.24 and US$17,123.75 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$17,815.3, which is a 3.84% increase compared to Ethereum's 4.13% increase.

Altcoin prices are seeing green, with BNB (+1.82%) and XRP (+2.54%) being the 2 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$0.1901 and US$0.1840, respectively.

The Top 3 Gainers of The Day are LeverFi (LEVER), Storj (STORJ), and Mines of Dalarnia (DAR):

1st Place

LEVERUSDT: Up by 13.89%

LeverFi, formerly known as RAMP DEFI, is a decentralised leverage trading platform. LEVER is trading at a current market price of US$0.004083, having touched a high of US$0.005295 and a low of US$0.003322 in the past 24 hours.

2nd Place

STORJUSDT: Up by 4.68%

Storj is an open-source cloud storage platform. STORJ is trading at a current market price of US$0.3398, having touched a high of US$0.3589 and a low of US$0.2982 in the past 24 hours.

3rd Place

DARUSDT: Up by 4.55%

Mines of Dalarnia is a play-to-earn game with procedurally generated levels, where the task is to uncover the secrets of the MoD universe. DAR is trading at a current market price of US$0.1576, having touched a high of US$0.1666 and a low of US$0.1238 in the past 24 hours.

Meanwhile, the Top 3 Losers include PRIMA LUSDT (-22.39%), CMPUSDT (-18.61%), and OASUSDT (-18.06%).

Futures Market Updates

Future activities are heating up, with the Open Interest (OI) of all cryptocurrencies now recorded at US$4.48 billion, equivalent to a 13.61% 24-hour increase. The aggregated futures volume saw a 32.98% increase to US$275 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$3.04 billion, which shows a 15.86% increase from yesterday. The daily volume of Bitcoin contracts increased by 70.13% to US$224,135.46. 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 39.44%/60.56%. Most BTC long ETFs locked in a price increase yesterday, same goes for the highly anticipated ProShares' Short Bitcoin Strategy ETF (BITI), which closed the day at US$37.56 from the opening price of US$37.11.

Interesting Topics

Comprehensive Manual to Bitget Spot Margin Trading

How to Perform Market Sentiment Analysis with Indicators (Part 2)

Bitget Shark Fin Introduction

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