Thread by @alexsunnarborg

THREAD:

Some stats on the distribution of BTC & ETH by addresses

Sparked by this @chainalysis post & subsequent coverage:

blog.chainalysis.com/reports/the-ec…

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The top 107 BTC addresses own 15.65% of all today’s BTC

The top 107 ETH addresses own 33.38% of all today’s ETH

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The top 500 BTC addresses own 28.78% of all today’s BTC

The top 500 ETH addresses own 55.70% of all today’s ETH

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1/3 of all today’s ETH is held in 107 addresses

1/3 of all today’s BTC is held in 828 addresses

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1 address does not always mean 1 person holding however

Exchanges often hold many clients’ funds in 1 address

Many of the largest BTC & ETH addresses are the cold wallets of major exchanges

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In addition to exchange wallets, many other addresses do not represent individual holders

Such as the > 2% of ETH in ICO treasuries

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Separating individual whales from services is very difficult

Chainalysis identified 124 services vs 376 individual whales in the top 500 ETH holders

Concluding that these top 376 whales control 33% of all existing ETH

This analysis ignores ETH held on exchanges

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I’d love to see the list of the services & addresses Chainalysis identified

And greatly appreciate the labeling that Etherscan provides: etherscan.io/labelcloud

Data used in this analysis was found on:

BTC: bitinfocharts.com/top-100-riches…

ETH: etherscan.io/accounts

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