Smart contracts play an increasing role of importance in the blockchain and cryptocurrency industry. Numerous ecosystems provide access to such services, with Ethereum still considered to be the go-to solutions. Now that over 204,000 token contracts exist on this blockchain, it has become apparent the total market cap of a token doesn’t necessarily correlate to the number of token holders.
Xenon (XNN)
Most people might not even know XENON exist. This project deems itself to be an alternative blockchain forked from EOS, yet its XNN tokens were first issued on the Ethereum blockchain through a smart contract. It is a token which generates no volume as of right now, despite there being nearly 747,000 token holders. With a market cap of $710,690, it is a matter of time until the project peters out completely. Even so, it will take some time until a different token contract surpasses the project in terms of unique token holders.
OmiseGO (OMG)
The first contender to XENON’s user base comes in the form of OmiseGO, or OMG. This public Ethereum-based financial technology has made a lot of waves lately, resulting in a market cap of just over $220 million. Its tokens also generate a decent amount of volume. Over the past 24 hours, nearly $46m worth of OMG changed hands, according to Etherscan. There are 654,482 token holders at the time of writing, which seems to confirm the distribution of OMG is relatively fair. There is still a long way to go before this project can become a top contender in any way.
VIN (VIN)
Another relatively unknown project comes in the form of VIN. As the name suggests, it is a blockchain project focusing on registering complete vehicle data in one marketplace. This will, in turn, make automotive more secure and transparent. The 478,880 token holders certainly hope VIN’s market cap will increase in the future. Right now, the entire project is valued at just $3.3 million, with $267,223 worth of tokens being traded over the past 24 hours. None of these statistics are overly impressive, but that situation can always change as more time progresses.
DATAcoin (DATA)
As the technology industry becomes more data-driven than ever before, it is not uncommon to see blockchain projects build the necessary infrastructure. DATAcoin is a currency used by the Streamr project, who are building a marketplace and decentralized network for real-time data. Despite boasting 434,836 token holders, the market cap of the project sits at just $8.37m, which is not all that impressive. It is also a token which struggles in terms of volume, as just $246,000 worth of DATA was exchanged according to Etherscan. Combined with the near 11% drop in value overnight, things are not looking overly appealing just yet.
UCASH (UCASH)
Despite seemingly generating a lot of traction when the token was initially distributed, UCASH is slowly losing traction. The vision of building a global network of building a network of users providing cash to digital conversions still needs a bit of work. Allowing people to unbank themselves sounds great on paper, but it is very difficult to pull off in the real world. Right now, the 319,051 token holders can’t be happy with the $3,779,458 market cap of this project. A recent 33% drop in token value, combined with just $426 in overall volume, seem to indicate UCASH could be running on its last legs.
Binance Coin (BNB)
Most cryptocurrency users will be aware of how Binance Coin has quickly become one of the most popular assets available today. Its current market cap of $4.38bn confirms as much. As this token exists on the Ethereum blockchain, it is interesting to see how many token holders exist today. A total of 314,220 users hold this token, which is a rather interesting figure. It is one of the few ERC20 tokens which can generate over $150m in daily volume. It is likely that figure will only continue to increase over the months to come.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.
