Here’s How Much of ETH’s Total Supply is Held in the Top 10 Addresses

The crypto analytics platform – Santiment – revealed that the ten largest Ethereum wallets hold almost 35% of the cryptocurrency’s total supply. 

This figure was 11.2% in August 2018.

• According to Santiment’s data, those Ethereum addresses have accumulated nearly 28 million ETH in the past five years and now own 34.6% of the asset’s circulating supply. That stash is currently worth almost $5.2 billion.

  

• The purchasing spree has drastically surged in the past several months, specifically after the start of 2023, which saw ETH’s price gradually recover from its 2022 bottom.
• In comparison, investors were not that determined to hop on the bandwagon in November last year when the infamous crash of FTX shook the industry to its core, triggering a considerable market decline.
• It is interesting to note that the majority of the biggest ETH holders are cryptocurrency exchanges, with Binance, Kraken, and Bitfinex being some examples.
• Ethereum Beacon Chain contract, which coordinates the entire network of the blockchain protocol by managing its stakers and which played a vital role in the transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS), is the undisputed leader, holding over 23 million of staked ETH.
• The 244,000 ETH stash of Vitalik Buterin (co-founder of Ethereum) is also substantial. However, it is not big enough to find a place among the ten largest addresses.