CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$26,187.00
  • ethereum
    ETH$1,580.12
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » Report: 11% Of All Bitcoins Is Held In Whale Addresses

    Report: 11% Of All Bitcoins Is Held In Whale Addresses

    Author: Jordan Lyanchev

    Last Updated Feb 23, 2020 @ 10:50

    Bitcoin’s total supply gets distributed among more addresses as its network matures over time. At the same time, some notable altcoins have up to 95% of their total supply held by several large addresses.

    This information came from a report gathered by the popular monitoring resource – coinmetrics. By examining numerous variables of data, the paper outlines the wealth distribution of some popular cryptocurrencies.

    Bitcoin

    Naturally, the report begins with the largest cryptocurrency by market capitalization. It concludes that back in 2011, only a few individuals held most bitcoins. More specifically, 33% of Bitcoin’s supply was held in addresses that contained 1/1000th of all BTC.

    As Bitcoin’s popularity kept increasing with time and more people got involved, it’s gradually been distributed to millions of different addresses. As Cryptopotato reported in January, there are almost 30 million BTC addresses. Therefore, fast-forwarding nine years to this February, only about 11% of Bitcoin’s total supply is concentrated in whale addresses.

    BTC Supply Distribution. Source: coinmetrics.com
    BTC Supply Distribution. Source: coinmetrics.com

    Alternative Coins

    Ethereum, mainly because of its initial token sale, had 60% of its total supply in addresses with at least 1/1000th back in 2016. According to the report, though, the ICO bubble of 2017 and 2018 deflated those numbers. As of February 2020, large addresses hold about 40% of the total Ether supply.

    Litecoin’s wealth distribution is similar. Large addresses containing at least 1/1000th of the total supply control 46% of all LTC.

    Out of all examined cryptocurrencies, Ripple and Stellar have the most significant amounts of their supply concentrated. As official foundations store some portions of their native currencies, 85% of XRP and 95% of XLM are held on large addresses.

    Stablecoins

    Tether (USDT) uses multiple blockchain networks for its tokens. The paper has examined USDT’s distribution on three of them – Ethereum, Omni, and Tron. It concludes that all three began 100% concentrated. However, USDT-ETH and USDT-Omni are becoming increasingly distributed in time. USDT-TRX, though, hasn’t moved much yet, and almost all of it is still concentrated.

    According to the report, the different distribution comes from the adoption levels. While USDT-ETH and USDT-Omni are used as a medium of exchange, Tron’s version is mostly being neglected.

    Also, other stablecoins have surpassed Tether in terms of transfer counts in the past 30 days. The report implies that USDT’s dominance over the stablecoin market may be decreasing.

    Stablecoins Transfer Count. Source: coinmetrics.com
    Stablecoins Transfer Count. Source: coinmetrics.com

     

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

    You Might Also Like:

    • bitcoin_top
      Report: Short Bitcoin Mentions At 2-Month High, Is $11,500 a Local Top?
    • btc_whale
      Despite Bitcoin's Latest Price Crash, BTC Whale Addresses Are At ATH
    • BlockchainNuclear
      Blockchain Could Help Reduce Nuclear War Risks: Report
    Tags: Bitcoin Ethereum Litecoin Tether (USDT)
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

  • bitcoin
    BTC$26,187.00
  • ethereum
    ETH$1,580.12
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    Quantstamp’s CEO: Here’s Why ‘Audited By’ for Crypto Security in 2023 is Not Enough (Interview)

    Quantstamp’s CEO: Here’s Why ‘Audited By’ for Crypto Security in 2023 is Not Enough (Interview)

    Deep Dive into Ethereum: What Changed A Year Post-Merge?

    Deep Dive into Ethereum: What Changed A Year Post-Merge?

    The Reports of Friend.tech Death Have Been Greatly Exaggerated (Opinion)

    The Reports of Friend.tech Death Have Been Greatly Exaggerated (Opinion)

    Exploring PayPal’s Foray into Cryptocurrency: A Game-Changer in Digital Finance

    Exploring PayPal’s Foray into Cryptocurrency: A Game-Changer in Digital Finance

    DeFi Without Native Rights Is Dead

    DeFi Without Native Rights Is Dead

    How Does the Shiba Inu (SHIB) Burn Work: Everything You Need to Know

    How Does the Shiba Inu (SHIB) Burn Work: Everything You Need to Know

    Crypto Will Go Away If There’s No Privacy: Interview With Anoma and Namada’s Adrian Brink

    Crypto Will Go Away If There’s No Privacy: Interview With Anoma and Namada’s Adrian Brink

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!