Speaking of the largest cryptocurrencies by market cap, no doubt, Bitcoin and Ethereum take the lead, hence, these two digital assets determine the trajectory of the crypto market.
However, these two cryptocurrencies have considerable differences in their supply as Ethereum has a higher percentage of its supply (39%) held by Whales
, unlike Bitcoin which is 11%.
The above data was revealed by the cryptocurrency market intelligence platform IntoTheBlock.
Does this Have an Effect on the Crypto Markets?
When crypto is largely concentrated in a single address, usually, it sparked some serious arguments in crypto space, while some opined that it is normal and investors should be allowed to hold as many crypto as they can, others opined that when crypto is concentrated in the hands of a few, it is no longer decentralized and hence, lead to easy manipulation of the market.
However the opinions of different people on the subject matter, it is still dangerous for a crypto to be concentrated in the hands of a few as it may affect the price of the crypto in the future. What is your opinion on this matter? Should crypto be concentrated in the hands of a few? share your position in the comment section below.
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