BNB at Highest Levels Since FTX Crash, Lido (LDO) Taps 5-Month Peak: Market Watch

Bitcoin’s journey round $23,000 continues because the asset pumped above that stage hours in the past however now sits nonetheless slightly below it.

Only a handful of altcoins have produced extra spectacular 24-hour good points, together with BNB and LDO, each of which tapped multi-month highs.

BNB, LDO on a Roll

With Binance having a key function in FTX’s speedy demise, the change’s native cryptocurrency was among the many most unstable throughout the crash two months in the past. At one level, it spiked from $300 to virtually $400 in hours earlier than retracing simply as laborious together with the remainder of the market.

The most substantial worth decline got here on December 17 when BNB slumped to a multi-month low of $220. However, it started to progressively improve in worth within the following days, and the early 2023 run has solely pushed it larger. This culminated in a worth soar to over $320 earlier at present – the very best BNB has been because the FTX fiasco unfolded.

Lido DAO’s native crypto has additionally been using excessive for the previous a number of weeks. The final 24 hours introduced a 6% improve, which pushed LDO to over $2.6. This grew to become its highest price ticket in over 5 months.

Most different altcoins are barely calmer. Ethereum, within the ninth yr of its announcement, continued to commerce above $1,600 regardless of a minor retracement.

The crypto market cap stays near $1.050 trillion on CoinMarketCap.

Cryptocurrency Market Overview. Source: Quantify Crypto

Bitcoin Sits Still at $23K

Ever because the major cryptocurrency lastly broke above $17,000 a couple of weeks again, it has been charting new native peaks. It managed to beat different round-numbered milestones within the following days, together with $18,000, $19,000, and finally $20,000.

Yet, that was not all, because the bulls stayed in management. They drove the asset to over $23,000 final weekend for the primary time since September. Bitcoin has stalled barely after portray that multi-month peak however nonetheless stays buying and selling sideways, round $23,000. This means it’s up by roughly 30% since two long-time crypto haters – Peter Schiff and Jim Cramer – suggested buyers to eliminate their belongings.

With the dearth of any substantial actions since yesterday, BTC’s market cap sits nonetheless slightly below $440 billion, and its dominance over the alts is at 42%.

BTCUSD. Source: TradingView