Coinspeaker
Ethereum-based Altcoins Leads in Top Projects with High Centralization
The Ethereum (ETH) network has grown to a major Web3 hub supporting dozens of rollups to enable in the past few years. The top-tier smart contract-based network has been acclaimed for achieving a high level of blockchain trilemma through its layer-two scaling solution. However, a recent study by market intelligence platform Santiment shows that Ethereum-based projects are still highly centralized from an investors’ point of view.
Top Centralized Projects on the Ethereum Network
Specifically, the top DeFi-based tokens and meme coins on the Ethereum network are heavily controlled by the 10 largest investors. With most of the ETH-based projects tapping on community DAOs for governance, the top ten largest holders get to make the decisions for the rest of the investors.
On the top list is Polygon (MATIC), a layer two scaling solution with $890 million in total value locked and over $2 billion
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