Market updates

Bitget Bites (January 12, 2023)

Beginner

2023-01-12 | 5m

The global market cap is standing at US$890 billion, showing a 4.16% increase from yesterday and the 24-hour volume also went up by 26.92% to US$44.08 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$18,287.3 and US$17,339.76 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$18,227.64, which is a 4.68% increase compared to Ethereum's 5.32% increase.

Altcoin prices are going strong, with XRP (+8.05%) 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$0.1851 and US$0.1789, respectively.

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The Top 3 Gainers of The Day are 0xmons (XMON), Bonk (BONK), and MinePlex (PLEX):

1st Place

XMONUSDT: Up by 19.23%

0xmons is a NFT platform for summoning neural net generated pixel monsters. XMON is trading at a current market price of US$19326.69, having touched a high of US$20505.78 and a low of US$14842.11 in the past 24 hours.

2nd Place

BONKUSDT: Up by 19.14%

Bonk is the first Solana dog coin for the people, by the people with 50% of the total supply airdropped to the Solana community. BONK is trading at a current market price of US$0.000001058, having touched a high of US$0.000001608 and a low of US$0.000000738 in the past 24 hours.

3rd Place

PLEXUSDT: Up by 13.79%

MinePlex (PLEX) is a new-generation digital ecosystem that emerged to satisfy the demand for more advanced, modern payment solutions. PLEX is trading at a current market price of US$0.16731, having touched a high of US$0.175 and a low of US$0.12323 in the past 24 hours.

Meanwhile, the Top 3 Losers include CULTUSDT (-14.13%), AMPLUSDT (-11.66%), and APTUSDT (-11.18%).

Futures Market Updates

Future activities are heating up, with the Open Interest (OI) of all cryptocurrencies now recorded at US$4.31 billion, equivalent to a 6.92% 24-hour increase. The aggregated futures volume saw a 62.52% decrease to US$574 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 64% of the total OI, now standing at US$2.78 billion, which shows a 5.45% increase from yesterday. The daily volume of Bitcoin contracts increased by 37.42% to US$224,290.42. Funding rate of the last cycle stands at 0.0000%.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now bullish at 61.05%/38.95%. 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$37.33 from the opening price of US$37.72.