Mooners and Shakers: Lido DAO shuffles up charts; Bitcoin clings on; Michael Saylor sued for tax evasion

Top 10 overview

With the overall crypto market cap at US$1.02 trillion and up about 0.4% since yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.

 

Uppers and downers: 11–100

Sweeping a market-cap range of about US$8  billion to about US$412 million in the rest of the top 100, let’s find some of the biggest 24-hour gainers and losers at press time. (Stats accurate at time of publishing, based on CoinGecko.com data.)

DAILY PUMPERS

• Lido DAO (LDO), (market cap: US$1.65 billion) +11%

• LEO Token (LEO), (mc: US$5.4 billion) +7%

Chiliz (CHZ), (mc: US$1.13 billion) +6%

• BitDAO (BIT), (mc: US$663 million) +6%

• NEXO (NEXO), (mc: US$605 million) +5%

LDO was a standout surger overnight in the top 100 cryptos by market cap. Unfamiliar with this one? Lido DAO is a “liquid staking” solution for proof-of-stake blockchains, namely Ethereum at this point. Very simply, liquid staking means you can retain your tokens’ liquidity while they’re being staked for passive yield.

The LDO token, like just about everything in crypto is down considerably this year in general, and at US$1.98 is sitting about 73% lower than it’s all-time high price of $7.30.

The fact it’s not actually down 80% or 90% or more from all-time-highs (like many alts) is due to a huge, 340% spike in the token’s price between mid July and mid August. Last month ultimately proved particularly voaltile for LDO, however, with the token losing about 45% of its value since August 14.

Part of the reason it may be seeing some love as we head into September, and draw closer to Ethereum’s near-mythological proof-of-stake “Merge” is that Lido DAO’S (decentralised autonomous organisation) is one of the largest holders of “ETH 2.0” staking contracts.

Perhaps not many investors and speculators yet realise that other altcoins, such as this one, are closely tied to the Merge narrative. Lido DAO, for instance will apparently become one of the biggest staking players in the new era of Ethereum.

 

DAILY SLUMPERS 

Helium (HNT), (market cap: US$663 million) -8%

• Elrond (EGLD), (mc: US$1.19 billion) -6%

• Maker (MKR), (mc: US$681 million) -5%

• Dash (DASH), (mc: US$480 million) -4%

• IOTA (MIOTA), (mc: US$776 million) -4%

Around the blocks

A selection of randomness and pertinence that stuck with us on our morning moves through the Crypto Twitterverse…

Uh-oh, looks like MicroStrategy’s Michael “Bitcoin Forever” Saylor has the DC attorney general on his case…

He must be a bit concerned, so let’s check in with our laser-eyed chum, shall we? See how he’s holding up…

Fair enough. Psst… wanna buy a Bitcoin watch? It’ll only set you back a Bored Ape or three. Saylor’s probably already got one.

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