{"id":548969,"date":"2023-08-26T13:00:05","date_gmt":"2023-08-26T13:00:05","guid":{"rendered":"https:\/\/uniquehot.com\/?p=548969"},"modified":"2023-08-26T11:31:26","modified_gmt":"2023-08-26T11:31:26","slug":"ethereum-ownership-centralization","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-ownership-centralization\/","title":{"rendered":"This Ethereum Metric Has Sparked Centralization Concerns Over ETH Ownership"},"content":{"rendered":"

Crypto blockchains are designed to be fully decentralized so that no single person or group has control. However, new data has shown that the top 10 Ethereum addresses control over 35% of the total ETH supply. For a network that was designed to be decentralized, this has sparked some serious concerns over how centralized ETH has become.\u00a0<\/span><\/p>\n

The 10 Largest Ethereum Addresses Hold Over 35% Of The Available Supply<\/h2>\n

While sharing the metric on social media platform X, crypto market intelligence platform Santiment showed how holdings of the 10 largest Ethereum addresses have now climbed to 35% of the total supply.<\/span><\/p>\n

Related Reading: Shiba Inu Whale Buys 708 Billion SHIB, Sparks Speculation Of Price Recovery<\/a><\/div>\n

This indicates that while small traders have been trying to offload their supply during the recent price crash, many ETH whales are taking the chance to buy the dip.\u00a0<\/span><\/p>\n

\n

\ud83d\udc33 The 10 largest addresses on the #Ethereum<\/a> network are now holding over 35% of the available supply. By no means does this mean the #2 asset in #crypto<\/a> is suddenly #centralized<\/a>, but it shows the capitulation of smaller traders showing #FUD<\/a> from this dip. https:\/\/t.co\/G3wIeBzelb<\/a> pic.twitter.com\/TXkKjSwwmn<\/a><\/p>\n

\u2014 Santiment (@santimentfeed) August 25, 2023<\/a><\/p><\/blockquote>\n

Over the past 5 years, the top 10 largest Ethereum addresses have seen their share of the total ETH supply grow substantially. Data shows that these addresses held only 11.2% of the total supply in August 2018, and then rose to 24% in August 2022. The current level means these 10 largest holders have accumulated 11% more in the past year.<\/span><\/p>\n

\n

\ud83d\udcc8 #Ethereum<\/a> has been seeing its top 10 addresses expand and accumulate more and more of the total available coin supply. In 5 years, the top 10 largest addresses have gone from owning 11.2% to now 34.6% of $ETH<\/a>. The 27.86M $ETH<\/a> added is worth $51.6B. \ud83d\ude2e https:\/\/t.co\/utI8W6DkRX<\/a> pic.twitter.com\/klgb7pus7K<\/a><\/p>\n

\u2014 Santiment (@santimentfeed) August 9, 2023<\/a><\/p><\/blockquote>\n

Etherscan, an Ethereum block explorer, shows the top account balances in ETH, with the largest address alone (Beacon Deposit Contract) controlling over 24% of all supply. Next comes in Wrapped Ether at 2.7%.\u00a0<\/span><\/p>\n

However, most of the largest ETH holders are cryptocurrency exchanges like Binance and Kraken. One of Binance\u2019s wallets (Binance 7) holds over 1.66%, while the exchange also holds large ETH amounts in other wallets, making it the largest of any single entity.\u00a0<\/span><\/p>\n

In comparison, the top 10 addresses of Bitcoin, the largest crypto in the world, own only 5.35% of the total supply. This, of course, does not take into account Satoshi Nakamoto’s Bitcoin cache.\u00a0\u00a0<\/span><\/p>\n

\"Ethereum<\/p>\n

ETH price struggles amid centralization concerns | Source: ETHUSD on Tradingview.com\u00a0<\/a><\/pre>\n
ETH Centralization Concerns?<\/h2>\n
Whales are known to have considerable control over the price movement of cryptocurrencies in the crypto market and large selloffs by these holders can lead to an increase in selling pressure from smaller investors, causing a dump in the price of ETH.\u00a0<\/span><\/p>\n
However, considering the largest holder is the Ethereum is the Beacon Deposit Contract used for staking ETH, an increase in the contract spells positive news. More deposits into the contract signal that more investors are depositing to become validators in ETH 2.0.<\/span><\/p>\n
Related Reading: MasterCard Axes Partnership With Binance Amid Regulatory Pressures<\/a><\/div>\n
Interestingly, the number of wallets holding between 10 and 10,000 ETH has risen to 355,000, and 1,788 more 10-10,000 ETH wallets have been added since the beginning of June. Whale transactions in the past week alone have also crossed 23,073 ETH, the highest since May.<\/span><\/p>\n
As for ETH\u2019s price, the token is currently trading at around $1,600, down 11% in the past month.<\/span><\/p>\n
Featured image from iStock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Crypto blockchains are designed to be fully decentralized so that no single person or group has control. However, new data has shown that the top 10 Ethereum addresses control over 35% of the total ETH supply. For a network that was designed to be decentralized, this has sparked some serious concerns over how centralized ETH has become.\u00a0 The 10 Largest Ethereum Addresses Hold Over 35% Of The Available Supply While sharing the metric on social media platform X, crypto market intelligence platform Santiment showed how holdings of the 10 largest Ethereum addresses have now climbed to 35% of the total supply. Related Reading: Shiba Inu Whale Buys 708 Billion SHIB, Sparks Speculation Of Price Recovery This indicates that while small traders have been trying to offload their supply during the recent price crash, many ETH whales are taking the chance to buy the dip.\u00a0 \ud83d\udc33 The 10 largest addresses on the #Ethereum network are now holding over 35% of the available supply. By no means does this mean the #2 asset in #crypto is suddenly #centralized, but it shows the capitulation of smaller traders showing #FUD from this dip. https:\/\/t.co\/G3wIeBzelb pic.twitter.com\/TXkKjSwwmn \u2014 Santiment (@santimentfeed) August 25, 2023 Over the past 5 years, the top 10 largest Ethereum addresses have seen their share of the total ETH supply grow substantially. Data shows that these addresses held only 11.2% of the total supply in August 2018, and then rose to 24% in August 2022. The current level means these 10 largest holders have accumulated 11% more in the past year. \ud83d\udcc8 #Ethereum has been seeing its top 10 addresses expand and accumulate more and more of the total available coin supply. In 5 years, the top 10 largest addresses have gone from owning 11.2% to now 34.6% of $ETH. The 27.86M $ETH added is worth $51.6B. \ud83d\ude2e https:\/\/t.co\/utI8W6DkRX pic.twitter.com\/klgb7pus7K \u2014 Santiment (@santimentfeed) August 9, 2023 Etherscan, an Ethereum block explorer, shows the top account balances in ETH, with the largest address alone (Beacon Deposit Contract) controlling over 24% of all supply. Next comes in Wrapped Ether at 2.7%.\u00a0 However, most of the largest ETH holders are cryptocurrency exchanges like Binance and Kraken. One of Binance\u2019s wallets (Binance 7) holds over 1.66%, while the exchange also holds large ETH amounts in other wallets, making it the largest of any single entity.\u00a0 In comparison, the top 10 addresses of Bitcoin, the largest crypto in the world, own only 5.35% of the total supply. This, of course, does not take into account Satoshi Nakamoto’s Bitcoin cache.\u00a0\u00a0 ETH price struggles amid centralization concerns | Source: ETHUSD on Tradingview.com\u00a0 ETH Centralization Concerns? Whales are known to have considerable control over the price movement of cryptocurrencies in the crypto market and large selloffs by these holders can lead to an increase in selling pressure from smaller investors, causing a dump in the price of ETH.\u00a0 However, considering the largest holder is the Ethereum is the Beacon Deposit Contract used for staking ETH, an increase in the contract spells positive news. More deposits into the contract signal that more investors are depositing to become validators in ETH 2.0. Related Reading: MasterCard Axes Partnership With Binance Amid Regulatory Pressures Interestingly, the number of wallets holding between 10 and 10,000 ETH has risen to 355,000, and 1,788 more 10-10,000 ETH wallets have been added since the beginning of June. Whale transactions in the past week alone have also crossed 23,073 ETH, the highest since May. As for ETH\u2019s price, the token is currently trading at around $1,600, down 11% in the past month. Featured image from iStock, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":548976,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[4771,1693,8323,85328,89213,1946,7931,8686,78803],"class_list":["post-548969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-centralization","tag-decentralization","tag-eth","tag-eth-holders","tag-eth-news","tag-ethereum","tag-ethereum-news","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nThis Ethereum Metric Has Sparked Centralization Concerns Over ETH Ownership<\/title>\n<meta name=\"description\" content=\"New data has shown that the top 10 Ethereum addresses control over 35% of the total ETH supply, leading to concerns about centralization.\" \/>\n<meta name=\"robots\" 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"This Ethereum Metric Has Sparked Centralization Concerns Over ETH Ownership","url":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-ownership-centralization\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-ownership-centralization\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/iStock-1329407939-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/iStock-1329407939-1.jpg?fit=2121%2C1414"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["centralization","decentralization","eth","eth holders","eth news","ethereum","ethereum news","ethusd","ethusdt"],"dateCreated":"2023-08-26T13:00:05Z","datePublished":"2023-08-26T13:00:05Z","dateModified":"2023-08-26T13:00:05Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"This Ethereum Metric Has Sparked Centralization Concerns Over ETH Ownership\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-ownership-centralization\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-ownership-centralization\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/iStock-1329407939-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/iStock-1329407939-1.jpg?fit=2121%2C1414\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"centralization\",\"decentralization\",\"eth\",\"eth holders\",\"eth news\",\"ethereum\",\"ethereum news\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2023-08-26T13:00:05Z\",\"datePublished\":\"2023-08-26T13:00:05Z\",\"dateModified\":\"2023-08-26T13:00:05Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/iStock-1329407939-1.jpg?fit=2121%2C1414","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/548969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=548969"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/548969\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/548976"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=548969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=548969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=548969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}