Just About 370 people own 33% of all Ethereum (ETH): Chainanalysis Inc research
- Chainanalysis Inc research reckons a third of Ether is in the hands of 370 crypto whales.
- Ether whales do not have much impact on the price.
A recently released research states that most of Ethereum is under so-called crypto whales. The research released by Chainanalysis Inc research which was cited by Bloomberg indicates that at least a third of the entire Ethereum (ETH) is held by about 370 crypto whales. The investors have the coins stored mostly in wallets and not on cryptocurrency exchanges.
Bitcoin, on the other hand, has 20% of all BTC under the control of 448 people. However, the research shows that the Ether whales do not have much impact on the price. This because they rarely move the Ether from wallet to wallet. At the same time, they do not use the assets for trading, they only hold.
The study adds that, whenever a crypto whale moves Ether to an exchange the effect on is minor but also substantial when looking at it statistically. The research adds that Bitcoin and Ethereum price are still correlated. A sentimental change and price movement in Ethereum would indicate that Ethereum will react in the same way.
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
