Solana Recovers 15%, OKB Skyrockets to 1-Year High: Market Watch

Time Stamp: January 2, 2023 4:57 AM

Bitcoin finally initiated a minor leg up in the past few hours and charted a multi-day high at over $16,700.

The altcoins are even more in green, led by massive gains from OKB, Solana, and others.

OKB, SOL Skyrocket

Ever since the FTX collapse, several crypto exchanges have been frequently presenting proof of reserves, and OKX has been at the forefront. Its native cryptocurrency has been on a roll in the same timeframe. The past 24 hours alone have brought a 12% increase, resulting in a surge to above $30 for the first time in over a year.

OKB has almost doubled its USD valuation since the FTX crash and has found a place in the top 10 largest digital assets by market cap.

Solana is another massive gainer today following a few days of consecutive price falls. SOL is now up by 15% and trades well above $11.

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Litecoin, Cardano, Dogecoin, Polkadot, and Polygon have also added impressive percentages on a daily scale.

Ethereum has reclaimed $1,200 after a 2% increase. Binance Coin is close to $250 following a similar daily jump.

The crypto market cap is back above $800 billion after a $20 billion increase.

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

Bitcoin Eyes $17K

The primary cryptocurrency finished the rather violent 2022 without any significant price movements. Just the opposite, the asset had gradually declined to under $16,500 and remained there for a few consecutive days.

Yesterday didn’t bring anything different, and BTC stood around that same number. The past 12 hours or so, though, were a bit different. Bitcoin started to gain some traction, added a few hundred dollars, and went to just over $16,750.

After charting a 5-day high, the asset has lost some ground and stands close to that line now. Although its market capitalization has increased to over $320 billion, its dominance over the alts has taken a slight hit and is now below 40%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView
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Cryptocurrency charts by TradingView.

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