Just 376 People Own 33% of the World’s Ether, Chainalysis Report Says
Thomas Simms's original article for cointelegraph.com reduced by 58%
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..
Donate Bitcoin to this address
Scan the QR code or copy the address below into your wallet to send Bitcoin
Donate Ethereum to this address
Scan the QR code or copy the address below into your wallet to send Ethereum
Donate With MetaMask
Donate ETH With MetaMask
Alternatively, support us by using the following referral links:
CN [too long; didn’t read]
Summarised crypto news.