Bitget Bites (December 15, 2022)

The global market cap is standing at US$861 billion, showing a 1.29% decrease from yesterday and the 24-hour volume also went down by 13.15% to US$46.26 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$18,323.21 and US$17,609.45 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$17,727.07, which is a 0.50% decrease compared to Ethereum's 2.19% decrease.

Altcoin prices are seeing red, with BNB (-4.10%) 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$0.1912 and US$0.1856, respectively.

The Top 3 Gainers of The Day are MinePlex (PLEX), Hifi (MFT), and Axelar (WAXL):

1st Place

PLEXUSDT: Up by 5.76%

MinePlex is a new generation mobile crypto bank with its own blockchain and liquid token. PLEX is trading at a current market price of US$0.1338, having touched a high of US$0.135 and a low of US$0.1163 in the past 24 hours.

2nd Place

MFTUSDT: Up by 5.09%

Hifi (formerly Mainframe) is a Lending Protocol that allows anyone to borrow against their crypto. MFT is trading at a current market price of US$0.006909, having touched a high of US$0.007054 and a low of US$0.006491 in the past 24 hours.

3rd Place

WAXLUSDT: Up by 4.55%

Axelar delivers secure cross-chain communication for Web3. WAXL is trading at a current market price of US$0.4664, having touched a high of US$0.5046 and a low of US$0.4329 in the past 24 hours.

Meanwhile, the Top 3 Losers include XENUSDT (-14.17%), XETAUSDT (-12.02%), and VISIONUSDT (-8.25%).

Futures Market Updates

Future activities are cooling down, with the Open Interest (OI) of all cryptocurrencies now recorded at US$4.13 billion, equivalent to a 7.79% 24-hour decrease. The aggregated futures volume saw a 6.85% increase to US$294 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$2.81 billion, which shows a 7.62% decrease from yesterday. The daily volume of Bitcoin contracts increased by 12.60% to US$252,385.78. 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 42.75%/57.25%. Most BTC long ETFs locked in a price increase yesterday, same goes for the highly anticipated ProShares' BTCUSDT">BTCUSDT">Short Bitcoin Strategy ETF (BITI), which closed the day at US$37.45 from the opening price of US$37.15.

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