Cryptocurrency

Bitcoin Enters 2023 Flat at $16.5K, Nexo Skyrockets 15% (Weekend Watch)

The tip of 2022 introduced nearly zero volatility for bitcoin, which remained flat at round $16,500.

Most altcoins additionally failed to provide any vital volatility, apart from the 2 current high-flyers – OKB and Toncoin.

Bitcoin Stalls at $16.5K

In yesterday’s Market Watch, CryptoPotato summarized bitcoin’s general worth actions in 2022, which began on a excessive word at nearly $50,000 however ended 65% decrease following a violent yr that noticed a number of collapses.

Whereas zooming in to overview BTC’s efficiency for the previous few weeks, one can simply discover a scarcity of any substantial worth actions. The cryptocurrency has been caught in a variety between $16,000 and $17,000 for the reason that failed try to beat $18,000 on December 14.

2022’s remaining hours didn’t ship any worth fluctuations both, and bitcoin remained caught at round $16,500. The beginning of the brand new yr is but to make its mark, though there’re some worrying predictions from analysts claiming that the asset may drop even additional based mostly on the whales’ conduct.

Presently, although, bitcoin’s market capitalization has stayed underneath $320 billion, whereas its dominance over the altcoins sits calmly at 40.1% on CoinMarketCap.

BTCUSD. Source: TradingView
BTCUSD. Supply: TradingView

NEXO Pumps by Double Digits

Though the alts are considerably extra unstable than bitcoin by nature, this has not been the case these days. Most bigger caps have produced small strikes, together with Ethereum. It dipped beneath $1,200 a number of days in the past and have didn’t reclaim that degree ever since. ETH stands quiet on a every day scale as soon as once more now, too.

Binance Coin, Cardano, Dogecoin, Polygon, Polkadot, Tron, and Shiba Inu have all slipped by underneath 1% in a day.

OKB and Toncoin are among the many finest performers right now, as they have been yesterday. OKB is up by 4% and sits at $27, whereas the latter has jumped by 5% and trades above $2.2.

However, NEXO has gained probably the most from the highest 100 crypto property by market cap, with an enormous 15% every day surge. As such, the lender’s native token has neared $0.7.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Supply: Quantify Crypto
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Disclaimer: Data discovered on CryptoPotato is these of writers quoted. It doesn’t signify the opinions of CryptoPotato on whether or not to purchase, promote, or maintain any investments. You’re suggested to conduct your individual analysis earlier than making any funding choices. Use supplied data at your individual danger. See Disclaimer for extra data.

Cryptocurrency charts by TradingView.

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