Market updates

Bitget Bites (November 22, 2022)

Beginner

2022-11-22 | 5m

The global market cap is standing at US$790.06 billion, showing a 0.28% decrease from yesterday but the 24-hour volume went up by 18.02% to US$66.06 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$16,246.61 and US$15,599.05 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$15,868.92, which is a 0.59% increase compared to Ethereum's 0.97% increase.

Altcoin prices are still dipping in the green, with XRP (+3.21%) 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$0.1796 and US$0.1767, respectively.

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The Top 3 Gainers of The Day are Neblio (NEBL), League of Kingdoms (LOKA), and Juno (JUNO):

1st Place

NEBLUSDT: Up by 11.80%

Neblio is a project that is developing an open source enterprise blockchain solution. NEBL is trading at a current market price of US$1.6067, having touched a high of US$1.9774 and a low of US$1.2947 in the past 24 hours.

2nd Place

LOKAUSDT: Up by 10.21%

League of Kingdoms is one of the world's first blockchain MMO strategy games. LOKA is trading at a current market price of US$0.3678, having touched a high of US$0.3849 and a low of US$0.3147 in the past 24 hours.

3rd Place

JUNOUSDT: Up by 7.27%

Juno is a global, open source, permission-less network for decentralised interoperable applications. JUNO is trading at a current market price of US$1.946, having touched a high of US$1.950 and a low of US$1.803 in the past 24 hours.

Meanwhile, the Top 3 Losers include CYCLUBUSDT (-87.40%), SNMUSDT (-75.66%), and YFIIUSDT (-50.86%).

Futures Market Updates

Futures activities are getting warmed up, with the Open Interest (OI) of all cryptocurrencies now recorded at US$3.28 billion, equivalent to a 1.77% 24-hour decrease. The aggregated futures volume saw an increase of 4.39% to US$284 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 65% of the total OI, now standing at US$2.13 billion, which shows a 0.80% decrease from yesterday. The daily volume of Bitcoin contracts increased by 34.06% to US$240,518.51. 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 39.92%/60.08%. Most BTC long ETFs locked in a slight price increase yesterday, the same goes for the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which closed the day at US$43.86 from the opening price of US$42.73.