Market Watch: The Graph Explodes 33%, Lido (LDO) Soars 16%

Market Watch: The Graph Explodes 33%, Lido (LDO) Soars 16%


Bitcoin slipped towards $22,500 once again in the past 24 hours but managed to bounce off and is once again situated around $23,000.

Most altcoins are calmer today, aside from several mid caps, including LDO and GRT, both of which have skyrocketed by double digits.


Lido DAO’s native cryptocurrency went on a roll at the end of last year, as the protocol managed to briefly surpass MakerDAO in terms of Total Value Locked. Since then, LDO has more than doubled its USD value. The past 24 hours alone brought another massive 16% surge that pushed it to over $2.4.

The Graph is another notable performer. The asset is up by over 30% and now sits close to $0.17.

Litecoin and TONCOIN are among the biggest gainers from the larger-cap altcoins, being up 3% and 4.5%, respectively.

Ethereum, Binance Coin, and Polygon are also slightly in the green, while Ripple, Cardano, Dogecoin, OKB, Solana, Shiba Inu, and Polkadot have marked minor daily declines.

The total crypto market cap has remained relatively stagnant on a daily scale at $1.065 trillion.

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

Bitcoin Back at $23K

After closing its best month since October 2021 in January, bitcoin went through a volatile first couple of days in February. Propelled by the latest interest rate hike by the US Federal Reserve, the cryptocurrency went from under $22,800 to a five-month high of above $24,200 in a matter of hours amid reports that the FOMO is returning.

However, the bears stepped up at this point and didn’t allow any further price increases. Just the opposite, they began piling up the pressure, and BTC found itself slipping below $23,000 in the following days. Moreover, the asset even charted a weekly low yesterday at $22,650 (on Bitstamp).

The past 24 hours were slightly more volatile, with bitcoin jumping above $23,000 before falling back down to $22,700. As of now, though, BTC stands with minor gains are just under $23,000.

As such, its market cap sits inches above $440 billion, while its dominance over the alts is at 41.4%.

BTCUSD.  Source: Trading View
BTCUSD. Source: Trading View

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making investment any decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source link

Leave a Comment