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<p><strong>The Ethereum network, often hailed as the decentralized platform for many applications, is currently experiencing a shift in its asset distribution. According to a recent </strong><a href="https://twitter.com/santimentfeed/status/1695217877941719083?s=20" target="_blank" rel="noopener noreferrer nofollow"><strong>tweet</strong></a><strong> by Santiment, a leading crypto analytics firm, the 10 largest addresses on the Ethereum network now hold over 35% of the available supply.</strong></p> 
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<h2 class="wp-block-heading" id="strong-the-rise-of-the-whales-strong"><strong>The Rise of the Whales</strong></h2> 
<p>The term “whale” is often used in the crypto community to describe individuals or entities that hold a large amount of a particular asset. In the case of Ethereum, these whales are accumulating more of the asset, now owning over a third of the available supply. <strong>This concentration of wealth has raised eyebrows, but what does it signify?</strong></p> 
<p>While the numbers may initially seem alarming, Santiment clarifies that Ethereum still needs to become centralized. The ethos of decentralization remains strong within the Ethereum community, and a concentration of assets in a few addresses does not necessarily equate to a loss of this core principle.</p> 
<h2 class="wp-block-heading" id="strong-capitulation-of-smaller-traders-strong"><strong>Capitulation of Smaller Traders</strong></h2> 
<p>The accumulation of larger addresses also highlights another trend—the capitulation of smaller traders. “Capitulation” refers to selling off assets, typically in a panic. According to Santiment, the current dip in Ethereum’s price has led to Fear, Uncertainty, and Doubt (FUD) among smaller traders, prompting them to sell their holdings. This has, in turn, allowed larger traders to accumulate more Ethereum.</p> 
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<p>The current price of Ethereum (ETH) is $1,647.01, with a 24-hour trading volume of $4,795,864,593. The cryptocurrency is down 0.43% in the last 24 hours and has a market capitalization of approximately $197,997,692,826. The circulating supply stands at 120,216,173 ETH.&nbsp;</p> 
<p>While the concentration of Ethereum in the top 10 addresses may raise questions, it’s crucial to look at the broader picture. The network remains committed to its decentralized nature, and the accumulation by larger addresses can be seen as a market trend rather than a fundamental flaw. As the crypto market continues to mature, such shifts in asset distribution are likely to occur. Still, they should be understood within the larger market dynamics context and the principles underlying the Ethereum network.</p> 
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/ethereum-centralization-looming-whales-now-hold-over-a-third-of-supply/">Ethereum Centralization Looming? Whales Now Hold Over a Third of Supply</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Ethereum Centralization Looming? Whales Now Hold Over a Third of Supply

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