Zcash, A Sole Gainer Among Top Coins, While Lido DAO Took The Biggest Loss of The Day


On Tuesday, August 9, most of the top cryptocurrencies lost the gains they made a day earlier. The global coin market capitalization dropped to $1.08 trillion from $1.14 trillion, a 5.2% drop in value. Bitcoin lost 4.12% over the course of the day, while Ethereum is down by 5.43%.

Other top coins such as Binance Coin, Ripple, Cardano and Solana also registered losses of 3.14, 4.79, 4.81 and 5.94% respectively. The losses among the top coins is widespread as the top 46 cryptocurrencies according to market cap are in red.

A Gainer Among Top 50

Zcash Chart

Zcash, which is number 47 by market capitalization, made a gain of 5.08%. This brought the market value of the privacy coin to $76.52 on a day that most digital currencies were in red. In the past 7 days, Zcash has gained 24.94%.

Zcash has a market cap of $1.2 billion and a 24 hour trading volume of $208 million. It reached an intra-day high of $81.27 at 5.29 AM.

Celsius Gains 18%

Another surprising gainer was Celsius, the defi platform which has been in the news in the past week. The Celsius token gained 18.35% in the past 24 hours, bringing its market value to $1.88. In the past one week, the token has gained 54.35%.

Celsius, which is ranked #89 has a market capitalization of $449 milli0n. Its 24 hour trading volume is $27 million. It is important to note that Celsius LLC has filed for relief under Chapter 11 of the US Bankruptcy Act, so most of the services of the company are no longer available.

Lido DAO Took The Big Loss

Lido DAO Chart

Lido DAO is the biggest loser among the top 100 cryptocurrencies. Ranked #65, the “liquid staking solution for Ethereum” has a market cap of $686 million and a 24 hour volume of $90 million. LDO dropped to a low of $2.10 at 4.10 PM, on August 9.


Author: Kamma

Kamma is passionate about the prospects of blockchain and the freedom cryptocurrencies afford people across borders. He holds small amounts of bitcoin and tether.

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