New data from IntoTheBlock suggests there exists a huge imbalance in the distribution of wealth for the Ethereum (ETH) and Dogecoin (DOGE) ecosystems.
The firm says that about 80% of the supply of both ETH and DOGE are owned by just about 0.01% of the total addresses holding the tokens.
By comparison, 0.32% of Bitcoin (BTC) addresses own 80% of the BTC supply, according to IntoTheBlock.
“Ever wondered about the distribution of wealth in different cryptocurrencies? Here’s a snapshot:
Bitcoin: ~80% owned by 0.32% of addresses, including Satoshi’s wallets.
Dogecoin: ~80% held by a mere 0.014% of addresses.
Ethereum: ~80% in the hands of just over 0.01%, closely resembling DOGE’s pattern.
These stats are important to consider when planning your strategy, especially when dealing with assets that have a smaller market cap and/or liquidity.”
The firm warns that when just a few addresses have a huge amount of a blockchain project’s tokens those holders can have an outsized influence on that crypto project’s ecosystem.
IntoTheBlock also looks more closely at the disbursement of Bitcoin across holding wallets.
“We offer a comprehensive holder composition matrix for all assets listed on our platform. Analyzing the supply concentration is essential in assessing the potential dominance of large holders within a network.”
According to the firm’s chart, just four addresses have more than 100,000 Bitcoin in their wallets for a combined 660,000 BTC, worth about $19.3 billion at time of writing. That sum represents about 3.39% of the total BTC supply.
At the other end of the spectrum, about 52% of total BTC addresses, or about 25.13 million, own up to 0.001 BTC for a total of 5,120 Bitcoin, which have a combined value of $149.3 million and are about 0.03% of the total supply.
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The post Analytics Firm Reveals Massive Imbalance in Wealth Distribution Among Ethereum and Dogecoin Holders appeared first on The Daily Hodl.
