Ethereum

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 <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"> #Ethereum has been seeing its top 10 <a rel="noopener noreferrer nofollow" title="addresses" href="https://thebittimes.com/tag/addresses.html">addresses</a> expand and accumulate more and more of the <a rel="noopener noreferrer nofollow" title="total" href="https://thebittimes.com/tag/total.html">total</a> available coin <a rel="noopener noreferrer nofollow" title="supply" href="https://thebittimes.com/tag/supply.html">supply</a>. In 5 years, the top 10 largest <a rel="noopener noreferrer nofollow" title="addresses" href="https://thebittimes.com/tag/addresses.html">addresses</a> have gone from owning 11.2% to now 34.6% of $ETH. The 27.86M $ETH added is worth $51.6B. https://t.co/utI8W6DkRX pic.twitter.com/klgb7pus7K</p>— Santiment (@santimentfeed) August 9, 2023 
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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> 
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 <p>Other <a rel="noopener noreferrer nofollow" title="addresses" href="https://thebittimes.com/tag/addresses.html">addresses</a> 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 <a rel="noopener noreferrer nofollow" title="supply" href="https://thebittimes.com/tag/supply.html">supply</a> 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"> #Ethereum $ETH 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:https://t.co/joxSPKhMjV pic.twitter.com/PKE3vM15DG</p>— glassnode alerts (@glassnodealerts) August 10, 2023 
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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> 
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 <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 loading="lazy" 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;interview&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> 
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Top 10 Ethereum addresses control 34.2% of total supply

TheBitTimes

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