Bitget Bites (September 12, 2022)

The global market cap is standing at US$1.054 Trillion, showing a 0.27% decrease from yesterday but the 24-hour volume was up by 2.47% to US$74.09 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$21,406.94 and US$22,206.37 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$21,771.25, which is a 0.26% decrease compared to Ethereum’s 2.01% decrease.

There has also been a decrease (-50.09%) 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 altcoin trading above the volume of US$1 billion, in order of market cap and volume we have BNB (-0.23%), XRP (-0.92%), and ADA (-1.33%).

The highest price and lowest price levels of BGB in the last 24 hours were US$0.18099 and US$0.16571, respectively.

The Top 2 Gainers of The Day are Seek Tiger (STI), and Zebec Protocol (ZBC).

1st Place

STIUSDT: Up by 97.23%

Seek Tiger, a decentralized chain game aggregation platform, is committed to creating a GameFi chain game aggregation platform based on the concept of Web 3.0, integrating smart contract constraints and DAO voting governance for global users. With a market cap of US$275,767.66 and a 24-hour trading volume of US$27,187.81, touching a high of US$0.041852 and a low of US$0.013081 in the past 24 hours, STI is trading at a current market price of US$0.021582.

2nd Place

ZBCUSDT: Up by 21.36%

Zebec is a continuous Settlement Protocol that allows users to send payments and distributions every second, transforming payroll, cash flow, and token vesting. With a current market cap of US$9,131,224.25 and a 24-hour trading volume of US$136,952.58, touching a high of US$0.014102 and a low of US$0.012337 in the past 24 hours, ZBC is trading at a current market price of US$0.012440.

Meanwhile, the Top 3 Losers include: ONITUSDT (-47.50%), LUNCUSDT (-14.04%), LUNCUSDC (-13.96%).

Futures Market Updates

Activities on Futures markets are cooling off, with the Open Interests (OI) of all cryptocurrencies now recorded at US$5.37 billion, equivalent to a 2.80% decrease. The aggregated futures volume also saw a decrease of 3.86% to US$292 billion from yesterday.

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance decreased to 68% of the total OI, now standing at US$3.67 billion, which is a 3.36% decrease from yesterday. The daily volume of Bitcoin contracts decreased by 6.70% to US$162,941.10. The last cycle of funding rate (-0.0046%) demonstrates a mild buy signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, leaning towards bearish at 49.90%/50.10%. Most BTC long ETFs locked in a significant price increase on Friday, except for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$35.49 from the opening price of US$36.36.

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