BTC’s Rollercoaster Around $24K Continues, LDO Soars 14% (Market Watch)

Bitcoin continues with its highly-volatile price movements around $24,000 with a price drop below that line and just a quick bounce off.

The altcoins have also turned green today, led by substantial gains from the native tokens of ETH liquid staking solutions.

BTC Comes Back Above $24K

Ever since the end of last week, there have been very few non-volatile moments for bitcoin. The asset skyrocketed from $21,500 to beyond $25,000 last Wednesday and Thursday, charting a six-month high before dumping by over $1,500 in hours.

Although the weekend was slightly less eventful, BTC still spent it attempting to overcome $25,000 but was stopped in its tracks. The latest attempt came on Tuesday, but with the same result.

The subsequent rejection, as well as the Wall Street crash, pushed the cryptocurrency south hard. As a result, bitcoin found itself slipping toward $23,500 once more. However, the bulls stepped up at this point and drove bitcoin to above $24,000 again, where it’s currently situated.

Its market capitalization has reclaimed $470 billion, while its dominance over the alts sits quietly at 42.5%.

LDO Back at it Again

One of the best performers for the past few months has been Lido DAO’s native cryptocurrency due to the hype around staking services. The last 24 hours brought yet another massive price surge for LDO (14%), which has taken it to over $3 for the first time in a while.

Other Ethereum-related tokens that have soared on a daily scale include Optimism and Frax Share – both are up by double digits. Stacks, which has a connection with the much-hyped Ordinals NFTs on Bitcoin, has skyrocketed by 25% to over $0.85.

More gains are evident from GRT, APT, VET, LINK, and TONCOIN from the lower- and mid-cap alts. OKB has stolen the show from the larger-cap altcoins, surging by 6% and exploding above $50 once again.

Ethereum, Binance Coin, Ripple, Cardano, Polygon, Dogecoin, Solana, Polkadot, and Shiba Inu are also in the green today.

The cumulative market cap has reclaimed the $1.1 trillion mark after dipping below that line yesterday.