Santiment posted a list of top crypto projects with the top ten wallets having massive holdings.
Polygon (MATIC) topped the list with the top 10 wallets holding 69.4% of the supply.
Circle USDC was the last in the list, with top 10 wallets holding 19% of the supply.
Blockchain analysis platform Santiment revealed the centralization of blockchain networks and the concentration of tokens held by top wallets. The report highlighted the top ten most popular cryptocurrencies and analyzed the percentage of supply controlled by the top ten addresses.
Polygon (MATIC) emerged as the most centralized, with the top ten addresses holding 69.4% of the supply. This was followed by Shiba Inu (SHIB) at 61.2%, Uniswap (UNI) at 50.8%, Pepe (PEPE) at 46.1%, Ethereum (ETH) at 44.0%, Tether (USDT) at 33.1%, and Chainlink (LINK) at 31.1%.
The altcoins with the least centralization, as highlighted by Santiment, include Toncoin (TON) at 27.5%, Multi Collateral Dai (DAI) at 24.5%, and USD Coin (USDC) at 19.0%. The blockchain analysis platform noted that there are several factors capable of influencing whether “an asset has a high or low concentration of holdings among top wallet…
The post Top 10 Most Centralized Cryptos: Should You Be Worried? appeared first on Coin Edition.
