Just 376 Individuals Hold 33% of All Ether Cryptocurrency: Chainalysis
A third of all ether, Ethereum’s native cryptocurrency, is owned by just 376 whales as of May 1, new research indicates. Blockchain analysis startup Chainalysis published a study on Wednesday, indicating that, while these 376 individuals control 33 percent of the circulating supply in 2019, that number is actually down from levels seen in 2016 and 2017. The study also found these whales have “no meaningful” impact on the ETH price, but they do increase intraday volatility in the cryptocurrency market when they make large sell-offs. Chainalysis defines whales as the top 500 holders of cryptocurrency, excluding services, who store their holdings off exchanges. It found that ether whales currently account for just 7 percent of all transaction activity.