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Bitcoin, Ethereum and Litecoin – Report

2020.06.12

Whales are holders of cryptocurrencies that have a significant amount of a cryptocurrency. These can be early investors who bought the cryptocurrencies at lower prices or exchanges that hold cryptocurrencies from thousands of customers. Due to these factors, the distribution of wealth can be very uneven.One of the main objectives of the creation of cryptocurrencies was to decentralize and distribute wealth more evenly.

Even with the largest Stablecoin Tether (USDT), only 140 wallets hold almost 60% of the total supply. Whales are often accused of manipulating market prices because they hold such large amounts of cryptocurrencies. The fact is, however, that most whales do not sell their cryptocurrencies, but rather accumulate them. These are not the first data published by blockchain analysis firms that show the unequal distribution of wealth in cryptocurrencies. Bloomberg, for example, reported that only 1,000 addresses control 40% of the total Bitcoin supply. These are addresses that own between 1,000 and 1 million Bitcoins.

It is also reported that only 1 percent of them control Bitcoins worth $100 million or more and that they continue to buy when prices drop, while private investors often sell at inopportune times for emotional reasons.

作者 : Collin Brown