Gauging the popularity of crypto assets and tokens is often a tricky ordeal. Evaluating the number of token hodlers can prove to be a viable metric. Polygon, a Layer 2 scaling solution for Ethereum, is home to numerous tokens, all of which are popular in one way or another.
Wrapped Ether (wETH)
In a way, it is anything but surprising to see Wrapped Ether at the top of the list. As Polygon is faster, cheaper, and more efficient to use than Ethereum itself, it quickly becomes a viable layer for decentralized finance purposes. Wrapped Ether, or WETH, is a very popular asset in DeFi and across the many decentralized exchanges. With over 88,540 token holders on Polygon, the demand for this asset is not slowing down by any means.
Wrapped MATIC (WMATIC)
MATIC is the native currency of the Polygon ecosystem. However, there is also Wrapped MATIC, or WMATIC version, that keeps gaining momentum. Tokenizing existing assets allows users to explore use cases and opportunities that may otherwise remain inaccessible. The growing popularity of WMATIC is tangible, as there are now over 66,000 holders, despite the token losing 26.3% in value in the past month.
As the native token of the Quickswap exchange AMM and yield-farming platform, QUICK is a very popular asset among users of the Polygon ecosystem. With its 36,357 token holders, QUICK appears to be gaining some popularity. Its value is still very high at $475.99, which may be a contributing factor to its success. The all-time high of $1,590 is still miles away, however.
It is intriguing to see that the default version of MATIC has fewer token holders than WMATIC. That seems to indicate that the tokenized version of this asset has more functionality, even though default MATIC can serve its purpose. However, with four times fewer holders than WMATIC, this gap is growing rather large. An intriguing development well worth keeping an eye on.
Various developers are working on ways to bring decentralized finance to Polygon in one way or another. For example, Moonwolf focuses on a deflationary DeFi ecosystem with green NFTs and no gas fees. Its native WOLF token is the first deflationary asset on Polygon, which makes its 17,114 holders an intriguing statistic. Deflationary tokens tend to see significant fluctuations in token holders, depending on how the price evolves. WOLF recently saw a 48.2% correction, thus the number of holders may be very different a month from now.
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