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10 Ethereum Addresses Hold 17% of the Total Supply of Ethereum in Circulation.

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Only 10 Ethereum Addresses Hold 17% of the Total Supply of Ethereum in Circulation.

When evaluating at the distribution of cryptocurrencies, there will always be the so-called “whale accounts”. Whale accounts refers to a crypto wallet account / wallet address with a large share of the cryptocurrency in question.

In the case of Ethereum, those accounts hold a significant amount of funds, yet there doesn’t appear to be any cause for alarm.

From an independent audit of the top 10,000 Ethereum wallet addresses by balance. As was expected, the top 10 addresses hold a combined value of over 91.7 million Ethereum.

To be more specific, these top 10 addresses hold 17 percent of the Ethereum supply on the market today. While this might seem incredibly worrisome.

However, it may not be a big issue as they appear at first.

Read Also: Ponzi Schemes: Cryptocurrency Wallet Users Increase in Nigeria Following the Increase in Pyramid Schemes Like Million Money Investment.

Some of these addresses may belong to the many cryptocurrency exchanges on the market. But then, there are addresses tied to popular smart contracts, which could explain the reason for their higher balance.

Given the upcoming switch to proof-of-stake, these wallets will be well monitored. Moreover, these addresses will have a better advantage to benefit from the new switch to proof-of-stake. 

It now boils down to conclude on the fact that cryptocurrency exchanges will rake more in ethereum since they will always have a higher number of ethereum sitting on their exchanges.

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