Over 80 Percent of Total ETH Supply is Held by 7,572 Addresses: Research
Cointelegraph By Adrian Zmudzinski
Cointelegraph By Adrian Zmudzinski
CointelegraphMarch 9, 2019, 9:54 AM MST
Over 80 percent of the total circulating supply of Ethereum (ETH) is held by 7,572 addresses, claims a report released by digital asset research company Delphi Digital on March 7.
More precisely, the data contained in the report claim that over 80 percent of the total supply of ETH coins are held by addresses with a balance higher than 1,000 ETH. The number of such addresses adds up to 7,572. The research breaks down the total number of addresses by volume of ETH they contain, stating that 6,490 addresses hold between 1,000 and 10,000 ETH, 923 of them hold between 10,000 and 100,000 ETH, 155 between 100,000 and 1,000,000 ETH and only four between 1,000,000 and 10,000,000 ETH.
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In the same document, the company also claims that the price of ETH has dropped an average of 19 percent after each of the past five hard forks, over the following 30 days.
Still, the most recent hard fork before last month’s Constantinople and St. Petersburg updates actually saw the price of ETH decrease by under one percent, which the report suggests is in part due to the decrease in block rewards from 5 ETH to 3 ETH.
The researchers also pointed out that as of March 3, over 2.3 million Ethereum (about 2 percent of the total supply) was present in decentralized finance apps.
Most of the ETH being staked in decentralized finance apps — reportedly 98 percent — is in MakerDAO smart contracts, which permit the creation and destruction of the Maker’s decentralized stablecoin Dai (DAI). The second decentralized finance app with the most staked ETH is the decentralized lending platform Compound, which held roughly 28,500 Ethereum as of March 3.
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