Just 376 People Own 33% of the World’s Ether, Chainalysis Report Says
Thomas Simms's original article for cointelegraph.com reduced by 41%
A third of the world's ether is owned by just 376 people, according to Chainalysis research published on May 15. Despite controlling a large portion of ETH's circulating supply, the study found these "Whales" are responsible for just 7% of all transaction activity. Chainalysis concluded that while these individuals don't necessarily have a meaningful impact on ETH's price, they do contribute to market volatility when big sell-offs are made.
These figures could be seen as an improvement compared with 2016, when whales owned 47% of ETH's circulating supply. According to the team's report, about 60% of whales hold their assets and do not regularly trade with exchanges. "On average, a 1% increase in bitcoin prices yesterday leads to a 1.1% increase in ether prices today." "We cannot rule out the possibility that whales can impact price changes within single days based on outlier events..
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