The latest on-chain data reveals that the largest Ethereum whales dominate the majority of the supply, with their holdings steadily increasing. Santiment, an on-chain analytics firm, recently discussed the distribution of ETH supply among various user segments. The 'Supply Distribution' metric tracks the percentage of Ethereum's circulating supply held by different wallet groups. These groups are categorized based on the number of coins they possess, such as 1 to 10 coins, 100 to 100,000 coins, and 100,000+ coins. Mega whales, holding over 100,000 ETH each, now own a record 57.35% of the supply, while smaller wallet ranges have decreased in dominance. This concentration of supply raises concerns, especially for Ethereum's PoS consensus mechanism. Despite this, many mega whales may not be individual investors but staking pools or platforms. Ethereum's price has experienced a slight decline, currently at $3,930. Read more AI-generated news on: https://app.chaingpt.org/news

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