The Distribution of Top Cryptos and Tokens among Crypto Whales
Recently, a report by Clovr indicated that a small group of crypto whales hold the majority of the top cryptos. The report also pointed out that Whales are also in charge of exchange wallets and loads of tokens.
Top assets with a remarkable wealth distribution program have over 70% of their supply with top wallets. All of these tokens have a relatively small market capitalization of $ 100 million or less.
Every asset possesses different risks of top-heaviness, and a token or coin purchase has to go with research per time. Founders or developer teams’ attempt to sell assets to naive investors is the most significant risk for specific tokens.
Apportionment among Crypto Whales
For Litecoin, only 189 addresses having colossal net worth may eventually have over 50 percent of the coins. Ownership is, however, not crucial for LTC because it is not proof-of-stake crypto; nonetheless, wealth imbalance is remarkable.
There are 322 crypto whale wallets containing over 50% of Ethereum. The issue is critical since the focus of ETH is to add staking in its future upgrades.
Bitcoin Cash, on the other hand, has over a thousand wallets. However, specific Bitcoin Cash wallets could be a legacy from the hard fork, not intentionally selected.
Over 50 % of bitcoins are within 4545 wallets. Exchanges and older “crypto whales” where the coins are not moving got included. According to estimates, almost 3 million BTC locked forever for various reasons.