- In the case of BTC, the share of such accounts is only 11%
- The number of “whales” has grown in anticipation of “the Merge”
- The situation may change after unlocking the “coins”
As of February 26, large holders control 39% of the total ETH. This contrasts sharply with the situation around BTC, where the share of such holders is only 11%.
Such statistics leads portal IntoTheBlock. In this case, the term “whale” means a wallet that contains at least 1% of the total supply of cryptocurrency.
The number of large holders in the Ethereum network has grown in anticipation of “the Merge”. Large holders were attracted by the possibility of crypto staking. But the situation may change after these “coins” are unlocked this spring.
IntoTheBlock statistics confirms the reduction in the number of large holders in the BTC market. Unfortunately, the portal does not divide them into “whales” and “megakits”, but the general trend coincides with that noted in our previous material.
As a reminder, we previously reported that the number of such accounts reached a new low from 2019. This may indicate an upcoming fall in the asset’s rate, as large investors are trying to get rid of a potentially unprofitable portfolio in advance.
The concentration of a large amount of cryptocurrency in the hands of such holders remains the subject of heated debate. On the one hand, such a scenario is a natural course of market development, but on the other hand, it is fraught with the centralization of the entire ecosystem.