When looking at the distribution of cryptocurrencies, there will always be so-called “whale accounts”. In the case of Ethereum, those accounts hold a significant amount of funds, yet there doesn’t appear to be any cause for concern.
An independent audit of the top 10,000 Ethereum wallet addresses by balance has been conducted.
Ethereum has a Skewed Distribution
As was to be expected, the top 10 addresses hold a combined value of over 91.7 million Ether.
More specifically, the top 10 addresses hold 17% of the Ether supply on the market today. To many people, that would seem incredibly worrisome. However, things may not be as problematic as they appear at first.
Some of these addresses may belong to the many cryptocurrency exchanges on the market.
Additionally, there are addresses tied to popular smart contracts, which would explain their higher balance. Because of this technology, one could argue that the distribution of Ether may look somewhat odd.
Even so, having so few addresses control a vast percentage of the supply will spark debates for some time to come.
Given the upcoming switch to proof-of-stake, these wallets will be be watched like a hawk. All in all, it is important to note that this distribution doesn’t look all that different from Bitcoin’s.
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