Altcoin News: Just 376 People Control One-Third of Ethereum and 448 People Own 20 Percent of All Bitcoin
A new study by the analytical company Chainalysis Inc. shows that 376 people control a third of Ethereum coins.
Chainalysis senior economist Kim Grauer explained that they had filtered crypto addresses and collected information only about “whales” or large holders of cryptocurrency who hold their assets in digital wallets and not on an exchange. For comparison, she gave an example of a Bitcoin network, where, according to her, 448 people control 20% of all Bitcoins.
The company also analyzed the influence of such holders on the market and concluded that “whales” are not inclined to move their assets frequently.
“The majority of whales aren’t traders,” she said in an interview with Bloomberg.
Chainalysis found that when a large ether holder moves it to the exchange, there is a small but statically significant effect on the volatility of the cryptocurrency. According to analysts, important indicators in predicting the behavior of Ethereum are investor sentiment and Bitcoin price movements.
These studies include the period from the beginning of 2016 to the end of April.
“It’s unfortunate this bull run didn’t happen a month ago to be part of our analysis,” added Grauer.
Author: Marko Vidrih