Ethereum

Bitcoin

Gary

<p class="is-style-lead">According to Santiment, a market intelligence platform, Ethereum’s top 10 addresses have been accumulating over the last five years and currently control 34.6% of the total supply, equivalent to 120.15 million ETH, up from 11.2%.&nbsp;</p> 
<p>This augmented ownership signifies the addition of approximately 27.86 million ETH worth around $51.6 billion at spot rates.&nbsp;</p> 
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   <p lang="en" dir="ltr">📈 <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Ethereum</a> has been seeing its top 10 addresses expand and accumulate more and more of the total available coin supply. In 5 years, the top 10 largest addresses have gone from owning 11.2% to now 34.6% of <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a>. The 27.86M <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a> added is worth $51.6B. 😮 <a href="https://t.co/utI8W6DkRX" target="_blank" rel="noopener noreferrer nofollow">https://t.co/utI8W6DkRX</a> <a href="https://t.co/klgb7pus7K" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/klgb7pus7K</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1689349389549293568?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 9, 2023</a> 
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<p>Meanwhile, Etherscan, an Ethereum block explorer, reveals key account balances in ETH, showing that the Beacon Deposit Contract holds 27,984,650 ETH (23.3%). </p> 
<p> You might also like: <a href="https://crypto.news/ethereum-holds-above-1-8k-whale-activity-drops/" rel="noopener noreferrer nofollow"> Ethereum holds above $1.8k, whale activity drops </a> </p> 
<p>Other addresses with significant holdings include those denominated in Wrapped Ethereum (wETH) with 3,361,754 ETH (2.8%), and “Binance 7” with 1,996,008 ETH (1.7%).</p> 
<p>Analyzing the chart underscores that the largest holdings belong to entities rather than individuals. Nonetheless, this does not negate the existence of ETH whales.</p> 
<p>Glassnode data also shows that ETH’s active supply is at a 5-month high of 10,018,878.755 ETH, indicating that the coin is actively circulating among traders.</p> 
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   <p lang="en" dir="ltr">📈 <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Ethereum</a> <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a> Amount of Supply Last Active 1m-3m (1d MA) just reached a 5-month high of 10,018,878.755 ETH<br><br>View metric:<a href="https://t.co/joxSPKhMjV" target="_blank" rel="noopener noreferrer nofollow">https://t.co/joxSPKhMjV</a> <a href="https://t.co/PKE3vM15DG" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/PKE3vM15DG</a></p>— glassnode alerts (@glassnodealerts) <a href="https://twitter.com/glassnodealerts/status/1689611381409042433?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 10, 2023</a> 
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<p>That ETH whales are accumulating coincides with existing regulatory challenges in classifying digital assets as securities or commodities.&nbsp;</p> 
<p> You might also like: <a href="https://crypto.news/binance-ceo-responds-to-resolution-of-secs-request-for-emergency-relief/" rel="noopener noreferrer nofollow"> Binance CEO responds to resolution of SEC’s request for emergency relief </a> </p> 
<p>The recent lawsuit filed by the US Securities and Exchange Commission (SEC) on Jun. 5 against Coinbase and Binance, in which Gary Gensler abstained from explicitly labeling Ethereum as a security, underscores this situation.&nbsp;</p> 
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 <div class="wp-block-embed__wrapper"> <iframe title="Chairman McHenry Questions Chair Gensler on Ether at Hearing to Conduct Oversight of the SEC" width="1020" height="765" src="https://www.youtube.com/embed/VhA1dZXeao0?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
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<p>Due to the decentralized nature of public ledgers, cryptocurrencies are difficult to categorize, and ongoing debates about their classification continue.</p> 
<p>In a CNBC&nbsp;<a href="https://crypto.news/ethereum-is-a-commodity-says-co-founder-joseph-lubin/" rel="noopener noreferrer nofollow">interview</a>&nbsp;on Aug. 10, Joseph Lubin, the CEO of ConsenSys and co-founder of Ethereum, shared his perspective on the commodity status of ETH and crypto assets.</p> 
<p>In light of the SEC lawsuit initially impacting the prices of Bitcoin and Ethereum, the community awaits further clarity on the ETH’s legal status and potential implications for the markets.</p> 
<p> Read more: <a href="https://crypto.news/proshares-becomes-11th-company-to-file-for-ethereum-etf-in-a-week/" rel="noopener noreferrer nofollow"> ProShares becomes 11th company to file for Ethereum ETF in a week </a> </p>

Top 10 Ethereum addresses control 34.2% of total supply

crypto.news

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