The top 10 addresses control more than 35% of the total ETH supply.
Smaller traders sell amid FUD, while larger players accumulate.
Ethereum (ETH), the world’s second-largest cryptocurrency, has witnessed significant developments within its network. Despite trading around the $1,650 mark, the network’s activity has been capturing attention.
Notably, as the market witnessed a crash, a fascinating trend emerged. While small traders sought to offload their holdings, prominent players in the field were seen accumulating ETH. This accumulation has resulted in an increased concentration of ETH supply, with the top 10 addresses now controlling over 35% of the total supply.
The 10 largest addresses on the #Ethereum network are now holding over 35% of the available supply. By no means does this mean the #2 asset in #crypto is suddenly #centralized, but it shows the capitulation of smaller traders showing #FUD from this dip. https://t.co/G3wIeBzelb pic.twitter.com/TXkKjSwwmn
— Santiment
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