Lido DAO surges to 2-month high, BTC hit $17,000

After failing to challenge $17,000 for several days, Bitcoin finally reached this level, marking a multi-week high.

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

Bitcoin touches $17,000

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

BTC attempted to get closer to $17,000 over the next few days but ultimately failed to tap this line. Yesterday’s recent rejection actually pushed the asset down a few hundred dollars.

However, a few hours ago, Bitcoin actually hit $17,000 for the first time since December 20th. So far it’s lost some ground and is just below, but it’s still up about 1% on the day.

Its market cap has surged to over $325 billion, but its dominance over the alts has fallen back to 39.6%.

BTCUSD. Source: TradingView

LDO, ETC on the run

CryptoPotato reported earlier this week when Lido DAO became the leader in Total Value Locked, outperforming MakerDAO. Although the latter has recaptured its first position, the former’s native cryptocurrency has continued to rise.

The latest push came earlier today as LDO soared in double digits to hit $1.5. This became the highest price in about two months.

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

Litecoin and Polygon are up the most out of the top 15 largest cryptocurrencies, with gains of up to 4%.

Ethereum, Binance Coin, Ripple, Cardano, OKB and Polkadot are up 1-2% in the last 24 hours.

The cryptocurrency’s market cap has recouped all of yesterday’s losses and is back above $820 billion.

Overview of the cryptocurrency market.  Source: Quantify Crypto
Overview of the cryptocurrency market. Source: Quantify Crypto
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Cryptocurrency charts by TradingView.

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