Decentralized Powerhouses: Examining the Top DApp Tokens and Their Holders
A Deep Dive into the Tokenholder Bases of the Most Influential DApps
Russian DeFi
February 03, 2023
In 2019, the estimated market size of DApps was around $10 billion...
As per the current growth rate, the market will reach $368.25 billion by 2027 ! 🤯
Let's look at what the hodler base looks like for the largest protocols. 👇️
1) Livepeer (LPT)
Livepeer is an Ethereum-based network for encoding live and recorded video.
Because it doesn't host, store, or distribute video, Livepeer sets itself apart from other traditional video streaming services like YouTube.
LPT Tokenholder Base Stats:
• Circulating market cap: $199.76M
• Total number of LPT holders: 2.3M
• The average dollar value of LPT per tokenholder: $71.2
• Percentage of LPT tokens held by the top 100 holders: 77.5%
2) Uniswap (UNI)
Uniswap is an entirely different kind of exchange that is fully decentralized— which means that it isn't owned and run by a single entity and makes use of a pretty new trading model known as an automated liquidity protocol.
UNI Tokenholder Base Stats:
• Circulating market cap: $4.94B
• Total number of UNI holders: 367.6K
• The average dollar value of UNI per tokenholder: $13.6K
• Percentage of UNI tokens held by the top 100 holders: 84.4%
3) Compound (COMP)
Compound is a piece of Ethereum-based software that aims to motivate a distributed network of computers to run a conventional financial market.
Simply put, Compound enables users to add cryptocurrency to lending pools that borrowers can access.
Compound Tokenholder Base Stats:
• Circulating market cap: $349.3M
• Total number of COMP holders: 207.8K
• The average dollar value of COMP per tokenholder: $1.7K
• Percentage of COMP tokens held by the top 100 holders: 88.7%
4) 0x (ZRX)
0x is software that aims to incentivize a network of users to create and operate new kinds of markets that don’t rely on traditional financial intermediaries.
Users of 0x can create markets for crypto assets that represent any kind of value, such as markets for tokens representing shares of stocks and bonds, physical real estate, and other tokens representing crypto assets.
ZRX Tokenholder Base Stats:
• Circulating market cap: $191.21M
• Total number of ZRX holders: 196K
• The average dollar value of ZRX per tokenholder: $1.7K
• Percentage of ZRX tokens held by the top 100 holders: 73.6%
5) Loopring (LRC)
Loopring is a blockchain-based project allowing developers to build decentralized exchanges.
The project aims to build a network of connected trading platforms so buyers and sellers can access various platforms from a single dashboard
LRC Tokenholder Base Stats:
• Circulating market cap: $395.66M
• Total number of LRC holders: 165.6K
• The average dollar value of LRC per tokenholder: $2.1K
• Percentage of LRC tokens held by the top 100 holders: 76.9%
6) Aave (AAVE)
Aave is a DeFi protocol that enables users to lend and borrow a diverse range of cryptocurrencies.
It manages loans and interest accounts on users' behalf and functions similarly to a bank.
AAVE Tokenholder Base Stats:
• Circulating market cap: $1.22B
• Total number of AAVE holders: 152.2K
• The average dollar value of AAVE per tokenholder: $7.4K
• Percentage of AAVE tokens held by the top 100 holders: 83.5%
7) The Graph (GRT)
A protocol for indexing and accessing blockchain data is called The Graph.
Like Google indexes the web, The Graph indexes blockchain records from networks like Ethereum.
Simply put, The Graph arranges the data and makes it simple to retrieve it on chain
GRT Tokenholder Base Stats:
• Circulating market cap: $800.36M
• Total number of GRT holders: 137.3K
• The average dollar value of GRT per tokenholder: $4.6K
• Percentage of GRT tokens held by the top 100 holders: 83.9%
Conclusion
We highlighted the tokenholder base of some of the largest DApp protocols, including Livepeer (LPT), Uniswap (UNI), Compound (COMP), 0x (ZRX), Loopring (LRC), Aave (AAVE), and The Graph (GRT) - these protocols offer unique solutions in the video streaming, decentralized exchange, financial market, data indexing, and lending and borrowing industries.
It's interesting to note the concentration of tokens held by the top 100 holders for each protocol and the average dollar value per tokenholder. As the DApp market continues to grow, it will be interesting to see how these protocols evolve and impact the future of decentralized technology.