Tuesday, May 16, 2023 saw Bitcoin make a modest gain of 1.37% at a time that LIDO, Litecoin and Coinflux led gains among the most capitalized coins.
LIDO, which has been one of the most consistent tokens in the past months gained 3.5% in the past 24 hours, pushing its market price to $2.19. On the 7-day chart, the token has gained 16.3%. Today’s performance followed the conclusion of voting initiated 4 days ago that resulted in the launch of Lido’s V2. The upgrade activated withdrawals of ether from the liquid staking protocol.
📈 Lido Analytics: May 8 – May 15, 2023
– TVL is up 2.40% ending the week at $12.36b.
– 18.7% of last week’s ETH staking deposits came to Lido (total value of 183.3k ETH).
– Lido on Polygon grew 34.56% thanks to a large inflow of new deposits (32.1m MATIC). pic.twitter.com/mto2vy8uPK
— Lido (@LidoFinance) May 16, 2023
Litecoin, with a modest gain of 2.6% is the only coin in green with up to 2% among the top 30 assets in the past 24 hours. On the 7-day chart, the digital currency is up by 12.6%. Litecoin is currently trading at $89.07.
The new coin in the block
Conflux (CFX) is occupying the 52nd position by market cap, according to Coinmarketcap data. The asset gained 8.7% on Tuesday, bring its market price to $0.313. On the 7-day chart, CFX has gained 22.44%, making it one the top gaining assests at the moment. In the past 24 hours, Coinflux announced a partnership with Mold Finance, adding that the de-fi platform plans to migrate to Coinflux network. It also announced its premier Launchpad, Fluxfirexyz, today.
Bitcoin is trading at $27,096 at the time of reporting. Its intra-day low was $26,876 while its intra-day high was $27,646 according to Coinmarketcap data. The coin’s dominance is 46.5% while ETH dominance is 19.4%.
BTC price action
The BTC/USDT chart shows that Bitcoin is on a downtrend. On the 4H chart on Bitstamp, the BTC/USDT chart showed a relative strength index of 49. This means that the asset is neither in the overbought or oversold region. The volume is down by 1.9% to $13.1 billion. This implies that it will be some days before we see a major move in the price of Bitcoin.