🪙$DEGEN🪙
$DEGEN, an ERC-20 token launched in January 2024, has reshaped the Farcaster ecosystem by enabling Casters to reward others with $DEGEN for posting quality content.
This points system recognizes unique posts and comments, effectively bridging the gap between online contributions and real-world value.
Many users on Farcaster use this token to tip each other and promote high-quality content. Additionally, the recent price pump of this token has garnered more attentionIn this dashboard, I will investigate this token...
🔸There are about 37 billion $DEGEN tokens, giving it a market cap of over $558.34 million at the latest price.
🔸So far, $DEGEN has 54460 holders, with an average holding amount of 239k tokens and a median (a more reliable metric) holding amount of 1370 tokens.
🔸The price of $DEGEN is currently 0.0085, and it has been increasing in all recent market conditions!
🔸More than 50% of the total supply is held in token contracts, with the top holder (0x704E...) holding more than 15 billion tokens in its multisig wallet.
🔸Excluding these contracts, the top address holds 314 million tokens, which is about 0.85% of the total supply.
👉Note: You can search your address in the search section to see your holdings and your rank among all users.
🔸Most $DEGEN holders (58.61%) own hold than 100 tokens, totaling 4.4 million tokens (0.01% of total supply).
👉With 100 $DEGEN worth less than 10 cents, these holders are unlikely to interact with their tokens in the future unless they purchase more.
Excluding the previous tier, Tier 5 (10k to 50k tokens) has the most holders (24.28%) and holds 0.42% of the total supply. 58.61% of the total supply is held by 214 addresses
🔸44184 users chose to trade $DEGEN on-chain, executing a total of 210394 trades and generating a trading volume of $251.8 million.
🔸There was a huge amount of token transfers after March 14th, while the trading volume remained almost steady in a stable manner.
Last $DEGEN swaps:
🔸Almost all trading volume (96.8%) is through Uniswap, which is chosen by 76% of traders. Additionally, 85% of trades have been conducted using Uniswap
🔸Overall, in most days, the sell pressure exceeded the buy pressure. However, recently, the sell pressure has been less than in the initial days.
To see all detailed analyses and upcoming updates, visit my dashboard (and like it🙃🥰)
This dashboard is made by Mrfti using FlipsideCrypto database:
You can find me on: Twitter, Warpcast, Hey and Discord: Mrfti
Don't forget to tip me with $DEGEN on warpcast =)
