These addresses accumulated approximately $5.2 billion worth of ETH in the last five years.
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.
Top 10 Largest ETH Addresses, Source: Santiment
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.
Dimitar got interested in cryptocurrencies back in 2018 amid the prolonged bear market. His biggest passion in the field is Bitcoin and he was fascinated with its journey. With a flair for producing high-quality content, he started covering the cryptocurrency space in late 2018. His hobby is football.
