This Ethereum Metric Has Sparked Centralization Concerns Over ETH Ownership
The top 10 Ethereum addresses now control over 35% of the total ETH supply, raising concerns about the decentralization of the network and the power held by large holders.
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Posted 8/26/2023, 3:05:51 PM
newsbtc.com
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The 10 largest Ethereum wallets are adding more ETH while the price remains low, now holding over 35% of the circulating supply, taking advantage of smaller investors who have been selling due to fear of a further price drop.
The supply of Bitcoin on crypto exchanges is currently at its lowest level in over half a decade, with only 5.8% of the overall supply sitting on exchange platforms, while Bitcoin is also leading in terms of address activity; meanwhile, the 10 largest addresses associated with Ethereum are holding over 35% of ETH's overall supply, likely due to smaller investors selling off their holdings during the recent market dip.