Although most crypto has been showing a cautious upward trend since the turn of the year, it remained relatively quiet last week. This week promises to look different right away, because many prices started to rise sharply yesterday evening. Several crypto coins are in the plus this morning and we even have a number of major outliers.
The market is cautiously beginning to talk about a so-called altcoin season, or alt season, but some analysts warn that this relief rally can be over soon. Despite this, the total market capitalization is up 3.6% to $889 billion.
📈 Market Overview#BTC price trades above $17K
The Top-10 are traded in green zone: $ADA +18.25%, $BNB +6.55%, $MATIC +6.53%.
Market cap: $894B (+2.81%) $BTC dominance: 37.01% (-1.25%)
Fear & Greed Index: 25 (Extreme Fear)Full Report👉https://t.co/fGvUHO9nlP pic.twitter.com/cb32q89YzE
— CryptoRank Platform (@CryptoRank_io) January 9, 2023
Bitcoin price back above 17,000
Bitcoin (BTC) was finally able to break out of the range below $17,000 last weekend. Despite this, the BTC price today lags behind a large number of altcoins. Still, with a price of $17,270, bitcoin is up 1.9% today. However, analysts seem to be very divided about which direction the price will continue. For example, the analysts of Crypto Insiders warn of a rapid turnaround.
1/ I would like to discuss our current position in the Bitcoin market cycle.
Starting from the previous Bitcoin (BTC) all-time high (ATH) and ending with the next halving, #BTC crossed the bear market bottom in 2014 and 2018, respectively. pic.twitter.com/IAq4U7q0iJ— Jiang Zhuoer BTC.TOP (@JiangZhuoer) January 9, 2023
Ethereum price breaks $1,300
Ethereum (ETH) is already gaining strength, breaking above $1,300 last night for the first time since mid-December. At the time of writing, ether is even rising to $1,325, which means that the price is up 4.9% today. Meanwhile, the next major Ethereum update, ‘Shanghai’, seems to be getting closer.
With the arrival of #Ethereum Shanghai upgrade, the prices of the 7 liquid staking derivative tokens have increased by an average of ~40.4% in the past 7 days.https://t.co/Ue3b5J6e37 pic.twitter.com/tgt4giNorb
— Lookonchain (@lookonchain) January 9, 2023
BNB, XRP, DOGE, MATIC all up
Ripple (XRP) is also slightly behind today, but at $0.35 it is still up 3.3% compared to 24 hours ago. Binance coin (BNB) is playing again with the $280 and is already 6.9% up today.
Dogecoin (DOGE) and polygon (MATIC) are picking up even more strongly and are both even up 7.5%. DOGE climbs to $0.077 and MATIC to $0.086.
Cardano price rises by almost 15%
But it is cardano (ADA) that steals the show today in the top 10, overtaking dogecoin again. ADA briefly touched USD 0.34 last night and is struggling to hold above USD 0.33 this morning and is falling to USD 0.325. Yet ADA is no less than 14.5% in the plus today.
Just you wait until CIP 1694 and the MBO unlocks the community. Millions of people working together for growth and utility
— Charles Hoskinson (@IOHK_Charles) January 8, 2023
Solana price rises by 21%
Yet just outside the top 10 we have an even harder riser: solana (SOL). While the market recently called for SOL to plummet to $0, the price is up as much as 21% today and even up 65% in 2023. SOL is currently trying to grab $16.5.
What happened to Solana is brutal, but if the tech and its thesis remains solid, its nothing other projects haven’t overcome too.
Bitcoin, Ethereum, even smaller projects like Synthetix and OlympusDAO…all had their FTX moment and all survived it.
— fiskantes.lens ⭐️🩸 (@Fiskantes) January 9, 2023
Crypto top 100 fastest risers
In the top 100 we find even more big risers today. For example, phantom (FTM), filecoin (FIL) and bitdao (BIT) are up 10%. For frax share (FXS) and klaytn (KLAY) this is already almost 11%. Apecoin (APE) is up by 12%, and flow (FLOW), decentraland (MANA) and cosmos (ATOM) by 13%.
Maker (MKR) and curve (CRV) are already up 14% today. Sandbox (SAND) and rocket pool (RPL) are both up 14.5%. Immutablex (IMX) is up 17% and lido (LDO) is up 21.5%.
Starting from Jan 1, 2023, the price of $LDO rises from $0.96 to $2.05, an increase of 110%.
The investor “0x0f89” sells $LDO every time after the price rises, with a total of 3.1 $LDO since Jan 1, and the average selling price is $1.36.
And still holds 2.12M $LDO ($4.11M). pic.twitter.com/ySfGydMLG5
— Lookonchain (@lookonchain) January 9, 2023
Zilliqa price rises by 51%
Finally, we have the big winner of the day: zilliqa (ZIL). The ZIL price is up a bizarre 51% today and is at $0.027 at the time of writing.
SOCIAL INSIGHT: @zilliqa
🔹The @LunarCrush AltRank or $ZIL has significantly improved and is heading to rank 1!
🔸Likely to be caused by the latest spree of developments (eg EVM Compatibility testnet)
🔹 $ZIL was 4 times above rank 20 in the last 90 days. pic.twitter.com/sbwsZAClJo— House of Chimera (@HouseofChimera) January 7, 2023
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