Market updates

Bitget Bites (January 3, 2023)

Beginner

2023-01-03 | 5m

The global market cap is standing at US$806 billion, showing a 1.14% increase from yesterday and the 24-hour volume also went up by 37.85% to US$23.88 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$16,759.71 and US$16,583.77 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$16,683.36, which is a 0.60% increase compared to Ethereum's 1.52% increase.

Altcoin prices are seeing green, with XRP (+4.93%) being the only altcoin 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$0.1824 and US$0.1805, respectively.

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The Top 3 Gainers of The Day are Canto (CANTO), Bitcoin Standard Hashrate Token (BTCST), and Forta (FORT):

1st Place

CANTOUSDT: Up by 6.44%

Canto presents the radical notion that core DeFi primitives should exist as Free Public Infrastructure (FPI). CANTO is trading at a current market price of US$0.08100224, having touched a high of US$0.08123998 and a low of US$0.07025086 in the past 24 hours.

2nd Place

BTCSTUSDT: Up by 4.64%

The Bitcoin Standard Hashrate Token is collateralized by Bitcoin's (BTC) hashrate, with each token representing 0.1 TH/s of Bitcoin mining power at an efficiency of 60 W/TH. BTCST is trading at a current market price of US$0.833, having touched a high of US$0.88 and a low of US$0.7 in the past 24 hours.

3rd Place

FORTUSDT: Up by 4.53%

Forta is a decentralized monitoring network to detect threats and anomalies on DeFi, NFT, governance, bridges and other Web3 systems in real-time. FORT is trading at a current market price of US$0.1339, having touched a high of US$0.13442 and a low of US$0.12617 in the past 24 hours.

Meanwhile, the Top 3 Losers include TSUKAUSDT (-10.70%), CANTOUSDT (-9.91%), and ANTUSDT (-5.59%).

Futures Market Updates

Future activities are warming up, with the Open Interest (OI) of all cryptocurrencies now recorded at US$4.02 billion, equivalent to a 16.09% 24-hour increase. The aggregated futures volume saw a 19.30% increase to US$279 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 67% of the total OI, now standing at US$2.70 billion, which shows a 16.90% increase from yesterday. The daily volume of Bitcoin contracts increased by 58.46% to US$148,043.73. 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 31.81%/68.19%. Most BTC long ETFs locked in a price increase yesterday, but that's not the case for the highly anticipated ProShares' Short Bitcoin Strategy ETF (BITI), which closed the day at US$39.79 from the opening price of US$40.41.