Bitcoin Enters 2023 Flat at $16.5K, Nexo Skyrockets 15% (Weekend Watch)
The end of 2022 brought almost zero volatility for bitcoin, which remained flat at around $16,500.
Most altcoins also failed to produce any significant volatility, aside from the two recent high-flyers – OKB and Toncoin.
Bitcoin Stalls at $16.5K
In yesterday’s Market Watch, CryptoPotato summarized bitcoin’s overall price movements in 2022, which started on a high note at almost $50,000 but ended 65% lower following a violent year that saw multiple collapses.
While zooming in to review BTC’s performance for the past few weeks, one can easily notice a lack of any substantial price movements. The cryptocurrency has been stuck in a range between $16,000 and $17,000 since the failed attempt to overcome $18,000 on December 14.
2022’s final hours didn’t deliver any price fluctuations either, and bitcoin remained stuck at around $16,500. The start of the new year is yet to make its mark, although there’re some worrying predictions from analysts claiming that the asset could drop even further based on the whales’ behavior.
Currently, though, bitcoin’s market capitalization has stayed under $320 billion, while its dominance over the altcoins sits calmly at 40.1% on CoinMarketCap.
NEXO Pumps by Double Digits
Although the alts are significantly more volatile than bitcoin by nature, this has not been the case lately. Most larger caps have produced small moves, including Ethereum. It dipped below $1,200 a few days ago and have failed to reclaim that level ever since. ETH stands quiet on a daily scale once again now, too.
Binance Coin, Cardano, Dogecoin, Polygon, Polkadot, Tron, and Shiba Inu have all slipped by under 1% in a day.
OKB and Toncoin are among the best performers today, as they were yesterday. OKB is up by 4% and sits at $27, while the latter has jumped by 5% and trades above $2.2.
Nevertheless, NEXO has gained the most from the top 100 crypto assets by market cap, with a massive 15% daily surge. As such, the lender’s native token has neared $0.7.
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I’m a journalist who specializes in investigative reporting and writing. I have written for the New York Times and other publications.