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Bitget Bites (July 29, 2022)

Bitget Bites (July 29, 2022)

Beginner
2022-07-29 | 5m

The global market cap is standing at US$1.095T, showing a 2.84% increase from yesterday and the 24-hour volume was UP by 16.62% to US$103.92B. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$22,722.27 and US$24,110.47 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$23,802.85, which is a 4.58% increase compared to Ethereum’s 6.69% increase.

There has been an increase in the volume and price of altcoins over the past 24 hours, with some altcoins trading above the volume of US$1B, in order of market cap and volume we have XRP (+4.34%), ADA (+2.61%), and SOL (+9.49%).

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.15340 and US$0.15187, respectively.

Bitget Bites (July 29, 2022) image 0





The Top 3 Gainers of The Day are Livepeer (LPT), DFI.Money (YFII) and Optimism (OP).

1st Place

LPTUSDT: Up by 26.23%

LPT is an Ethereum token that powers the Livepeer network, a platform for decentralized video streaming. LPT is required to perform the work of transcoding and distributing video on the network while also incentivizing peers to ensure that the network is cost-effective and secure. With a current market cap of $296,074,021.24 and trading volume of $151,358,509.54, LPT is trading at a current market price of $3.33.

2nd place

YFIIUSDT: Up by 23.82%

DFI.MONEY, also known as YFII, is a fork of popular decentralized finance (DeFi) aggregator platform yearn.finance (YFI). Launched in July 2020, it aims to optimize returns for DeFi investors while adhering to changes proposed in an upgrade plan called YIP-8. With a current market cap of $79,657,301.61 and trading volume of $260,568,561.20, LDO is trading at a current market price of $2,054.96.

3rd Place

OPUSDT: Up by 15.40%

OP Coin protocol is a revolutionary invention of the last decade. Its essential meaning is money digitization. It's the first decentralized peer-to-peer payment network without using any central authority or middlemen. With a current market cap of $372,732,331.21 trading volume of $773,533,734.50, OP is trading at a current market price of $1.58.

Meanwhile, the Top 3 Losers include: GINOAUSDT (-20.41%), FIOUSDT (-16.67%), BGBETH (-12.67%)

Futures Market Updates

The Open Interests (OI) of all cryptocurrencies went up slightly, now recorded at US$4.25B, which is equivalent to a 3.91% increase from yesterday and the 24-hours aggregated volume of all contracts at US$308B (+58.76%).

Bitget Bites (July 29, 2022) image 1

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI accounted for 68% of the total OI at US$2.78B while the daily volume of Bitcoin contracts only stood at US$232,114.60. The last cycle of funding rate (-0.0100%) demonstrates a mild buy signal.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now leaning towards bullish at 64.12%/35.88%. Yesterday was green for most Bitcoin ETFs, except the highly anticipated ProShares’ Short Bitcoin Strategy ETF (BITI), which ended the day at US$33 compared to the opening price of US$34.06. However, trading volume of Bitcoin ETFs went down slightly compared to the day before.

Interesting Topics

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PAX Gold: The Safest Way to Own Gold

Trading101: A Beginner's Guide to Cryptocurrency Trading Strategies (Volume 2)

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