Bitget Bites (September 5, 2022)

The global market cap is standing at US$982.13 billion, showing a 0.71% increase from yesterday and the 24-hour volume was up by 10.42% to US$48.73 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$19,636.82 and US$20,031.16 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$19,867.08, which is a 0.67% decrease compared to Ethereum’s 0.02% decrease.

There has also been a decrease (-24.52%) in the volume of our spot market. There has been a decrease in the volume and price of altcoins over the past 24 hours, with no altcoins trading above US$1 billion in volume. In order of market cap and volume we have BNB (+0.01%), ADA (+0.37%), and XRP (-0.20%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.15077 and US$0.14920, respectively.

The Top 3 Gainers of The Day are Contents Shopper Token (CST), ABBC Coin (ABBC), and Duckie Land (MMETA).

1st Place

CSTUSDT: Up by 12.92%

Contents Shopper team utilizes a basket of fiat-pegged stablecoins to keep the peg of its reserve currency CST. CST facilitates programmable payments and open financial infrastructure development. With a 24-hour trading volume of US$42,080.68, touching a high of US$0.00790 and a low of US$0.00451 in the past 24 hours, CST is trading at a current market price of US$0.00611.

2nd Place

ABBCUSDT: Up by 4.85%

The ABBC Coin was created to give holders the ability to govern the development of the ABBC platform by delegating voting power to chosen block producers, who are then able to vote on governance proposals. With a current market cap of US$208,360,358.07 and a 24-hour trading volume of US$447,411.90, touching a high of US$0.2128 and a low of US$0.1900 in the past 24 hours, ABBC is trading at a current market price of US$0.2100.

3rd Place

MMETAUSDT: Up by 3.81%

Duckie Land is a multiplatform multiplayer online game that runs on the blockchain, and each Duckie is a non-fungible token or NFT. Duckie Land gives gamers ownership of in-game assets and allows them to increase their value by actively playing the game. With a current market cap of US$369,197.10 and a 24-hour trading volume of US$14,961.07, touching a high of US$0.042254 and a low of US$0.038339 in the past 24 hours, MMETA is trading at a current market price of US$0.041461.

Meanwhile, the Top 3 Losers include: NXDUSDT (-44.30%), USDSPUSDT (-39.91%) and MITUSDT (24.44%).

Futures Market Updates

Activities on Futures markets are slowing down after a slightly active Sunday, with the Open Interests (OI) of all cryptocurrencies now recorded at US$4.42 billion, equivalent to a 1.12% decrease. However, the aggregated futures volume saw a massive increase of 233.92% to US$571 billion in the last 24 hours.

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance increased to 67% of the total OI, now standing at US$2.97 billion, showing no increase from yesterday. The daily volume of Bitcoin contracts increased by 37.27% to US$157,758.20. The last cycle of funding rate (-0.0100%) demonstrates a potential buy signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, leaning towards bearish at 44.42%/55.58%. Most BTC long ETFs locked in a significant price decrease on Friday, except for the highly anticipated ProShares’ BTCUSDT">BTCUSDT">Short Bitcoin Strategy ETF (BITI), which closed the day at US$38.97 from the opening price of US$37.94.

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