Weekend Coverage: Lido DAO surges to two-month highs, BTC touches $17K

After failing to challenge $17,000 for several days in a row, bitcoin finally reached that level, hitting a multi-week high.

Altcoins also turned green on Saturday, with impressive gains from Ethereum Classic and Lido DAO.

Bitcoin reached $17,000

The end of 2022 was rather quiet for the major cryptocurrency, and the first day of the new year didn’t bring any more excitement either, staying around $16,500. The situation started to change on Monday with a slight push from the bulls to $16,700.

BTC tried to get close to $17,000 over the next few days but ultimately failed at this line. The recent drop from yesterday sent the asset south by a few hundred dollars.

But bitcoin has already reached $17,000 a few hours ago, for the first time since December 20th. It’s lost some ground now and it’s a little less than that, but it’s still up about 1% on the day.

Its market capitalization increased to no more than $325 billion, but its dominance over alternatives returned to 39.6%.

BTCUSD. Source: TradingView

LDO and ETC in the long term

encrypted potatoes It was reported earlier this week when Lido DAO became the leader in Total Value Locked overtaking MakerDAO. Despite the latter regaining its first position, the former home cryptocurrency continued to rise.

The latest push came earlier today, when LDO rose by double digits to $1.5. This became the highest price in about two months.

Ethereum Classic is another notable performer on the daily scale. ETC is up 10% and is trading at just over $20.

Litecoin and Polygon jumped the most among the top 15 cryptocurrencies, with gains of up to 4%.

Ethereum, Binance Coin, Ripple, Cardano, OKB and Polkadot have increased between 1-2% in the last 24 hours.

The cryptocurrency market capitalization has recovered all of the losses incurred yesterday and is back above $820 billion.

Overview of the cryptocurrency market.  Source: Quantify Crypto
Overview of the cryptocurrency market. Source: Quantify Crypto

Subsequent Weekend Hour: Lido DAO surges to 2-month high, BTC $17K debuts on CryptoPotato.

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