Only 100 Ethereum Whales Control 50% Of Supply, Data Shows

On-chain data indicates the largest Ethereum whales control most of the supply and are only becoming bigger.

The “Supply Distribution,” which shows a wallet group's current Ethereum circulating supply percentage, is relevant here.

Based on their coin balance, addresses or investors are grouped. The 1 to 10 coins category comprises all wallets with 1 to 10 ETH.

For this subject, three large cohort ranges are of interest: 0 to 100 coins, 100 to 100,000 coins, and 100,000+ coins. The first includes retail investors.

These investors have little holdings, hence they have little market impact. Wallets grow in the second cohort, 100 to 100,000 coins, but only at the end.

The spectrum includes sharks and whales, two major investors. Whales are bigger than sharks, hence they're more valuable.

Finally, the biggest network addresses store almost 100,000 ETH. At current prices, this sum nears $400 million, thus large investors would be involved. They may be called “mega whales.”

The analytics company published this graphic showing the Supply Distribution pattern for these three Ethereum wallet ranges over the last decade:

The graph above shows that mega whales now have more Ethereum than in previous years. Both smaller wallet ranges have lost supremacy, with sharks and whales especially falling.

Only 104 mega whales possess 57.35% of the ETH supply, a record high. Shark and whale holdings are at an all-time low of 33.46%.

Generally, supply concentration hurts cryptocurrencies. However, Ethereum's Proof-of-Stake consensus method makes it important. An entity or group with 51% of the supply may take over the network.

However, many mega whales are staking pool and other platform wallets that store money for numerous investors.

#ETHHits4KAgain #MarketNewHype #BTCNewATH #FullMarketBullRun $ETH $BTC $XRP