• Lido DAO has seen a double-digit weekly increase, despite MakerDAO regaining its DeFi throne.
• Bitcoin touched the $17,000 mark for the first time in weeks, with altcoins such as Ethereum Classic and Lido DAO also seeing impressive gains.
• Bitcoin was mostly trading around $16,500 in the days leading up to the new year, but Monday saw a minor push from the bulls to $16,700.
The cryptocurrency market has seen a surge in the past week, with Lido DAO and Bitcoin setting record highs. Bitcoin, the primary cryptocurrency, has been steadily trading around $16,500 in the days leading up to the new year, and even on the first day of the new year, it remained at that level. However, the situation changed on Monday, as the bulls pushed Bitcoin to $16,700. This surge was followed by several more attempts to challenge the $17,000 mark, but the bulls failed to tap that level until Saturday. Finally, the primary cryptocurrency was able to touch the $17,000 mark, marking a multi-week high.
The altcoins also saw impressive gains on Saturday, with Ethereum Classic and Lido DAO leading the pack. Lido DAO, in particular, has seen a double-digit weekly increase, despite MakerDAO regaining its DeFi throne. This marks a positive development for the crypto market, as investors are now looking to other altcoins for potential growth and returns.
Overall, the cryptocurrency market has been experiencing a bull run in the past week, with Bitcoin and Lido DAO leading the charge. The market could potentially continue to see further growth in the coming weeks, as long as the bulls can maintain their momentum. However, investors should remain cautious, as the market is still volatile and could see a sharp drop in prices if the bulls fail to sustain their current levels.