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

Read full article at CryptoPotato.

Bitcoin’s adventure around $23,000 continues as the asset pumped above that level hours ago but now sits still just under it.

Only a handful of altcoins have produced more impressive 24-hour gains, including BNB and LDO, both of which tapped multi-month highs.

BNB, LDO on a Roll

With Binance having a key role in FTX’s rapid demise, the exchange’s native cryptocurrency was among the most volatile during the crash two months ago. At one point, it spiked from $300 to almost $400 in hours before retracing just as hard along with the rest of the market.

The most substantial price decline came on December 17 when BNB slumped to a multi-month low of $220. However, it began to gradually increase in value in the following days, and the early 2023 run has only pushed it higher. This culminated in a price jump to over $320 earlier today – the highest BNB has been since the FTX fiasco unfolded.

Lido DAO’s native crypto has also been riding high for the past several weeks. The last 24 hours brought a 6% increase, which pushed LDO to over $2.6. This became its highest price tag in over five months.

Most other altcoins are slightly calmer. Ethereum, in the 9th year of its announcement, continued to trade above $1,600 despite a minor retracement.

The crypto market cap remains close to $1.050 trillion on CoinMarketCap.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Bitcoin Sits Still at $23K

Ever since the primary cryptocurrency finally broke above $17,000 a few weeks back, it has been charting new local peaks. It managed to overcome other round-numbered milestones in the following days, including $18,000, $19,000, and ultimately $20,000.

Yet, that was not all, as the bulls stayed in control. They drove the asset to over $23,000 last weekend for the first time since September. Bitcoin has stalled slightly after painting that multi-month peak but still remains trading sideways, around $23,000. This means it’s up by approximately 30% since two long-time crypto haters – Peter Schiff and Jim Cramer – advised investors to dispose of their assets.

With the lack of any substantial movements since yesterday, BTC’s market cap sits still just under $440 billion, and its dominance over the alts is at 42%.

BTCUSD. Source: TradingView

The post BNB at Highest Levels Since FTX Crash, Lido (LDO) Taps 5-Month Peak: Market Watch appeared first on CryptoPotato.

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CryptosOnline.com does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

#Bitcoin #Crypto #Cryptocurrency