WETH leads network growth with a 648% surge, driven by Layer 2 adoption, despite a 6.11% price dip to $2,474.59.
WBTC and WBT show robust activity spikes, highlighting rising demand for DeFi and exchange-based token integrations.
UNI and VIRTUAL sustain network growth amid price declines, reflecting expanding Ethereum ecosystem engagement.
Wrapped Ethereum (WETH) has posted a remarkable 648% surge in network growth, despite a 6.11% price dip to $2,474.59. This movement places WETH as the leading token in address creation over the past week, based on new data from Santiment.
Layer 2 Usage Fuels WETH Network Surge
Wrapped Ethereum's activity has spiked significantly, driven largely by expanded usage across Layer 2 platforms like Polygon. Contrary to the decline in market capitalization, the sum of new addresses interacting with WETH has grown at a higher rate than any other token.
https://twitter.com/santimentfeed/status/1935050572136087874
This user-price divergence is evidence that developers and users are prioritizing low-cost, high-speed environments. The token is currently at a $8.35 billion market capitalization, which positions it at 35 by total value.
Simultaneously, Wrapped Bitcoin (WBTC) on Optimism has experienced a 402% rise in network growth. While its price has dropped 3.57% to $103,890.82, the spike in activity points to growing BTC integrations into Ethereum-based scaling solutions.
Exchanges, DEXs, and Protocol Tokens Record Parallel Upticks
WhiteBIT Token (WBT) has also experienced substantial traction, registering a 575% growth rate alongside a 30.01% increase in price. The asset now trades at $5.154 with a $4.46 billion market cap. The network expansion suggests increased trading activity on the WhiteBIT exchange.
BitDAO (BIT), which is selling at $0.62067, saw 175% new wallet growth even after losing 4.71% of its value. The DAO-focused token has a market cap of $1.07 billion, showing that decentralized governance keeps getting the attention over the long term.
Uniswap (UNI) on Polygon expanded its network base by 173.53%. The price, however, dropped 5.5% to $10.58, indicating demand for decentralized exchange services continues to be robust, but overall market conditions are still suppressing valuations.
Emerging and Mid-Cap Projects See Elevated Participation
Virtual Protocol (VIRTUAL) rose 120% in new wallet creation, although the token declined 14.13% to $1.66. Its $1.09 billion market cap ranks it 93rd, pointing to increased developer and user experimentation within the Ethereum ecosystem.
Maple Finance’s SYRUP token jumped 86% in growth while only slightly decreasing by 0.83% in price. The lending platform has a market cap of $34.38 million, which shows it is still a niche but active part of the DeFi ecosystem.
Render (RNDR) closes the list with an 84% growth in network activity. Despite an 11.38% price drop to $8.13, the token holds a $1.64 billion market cap, continuing to benefit from interest in decentralized GPU rendering.
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