Javier Hernandez As the second-largest cryptocurrency by market capitalization, Ethereum (ETH) is dispersed across an astonishing 242,686,839 unique wallets. However, as of September 3, 2023, just ten Ethereum addresses have dominion over 34.18% of the total supply. This article provides an in-depth analysis of these top ten Ethereum wallets and the influential entities that command substantial portions of the ether ecosystem.
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The Ethereum Oligarchy: Entities Controlling the Bulk of ETH Assets
On September 1, 2023, CryptokenTop.com News shed light on the ten most influential Bitcoin (BTC) addresses, aiming to identify their owners. The investigation found that eight of the top ten Bitcoin vaults have known owners, one potentially associated with Huobi, while the tenth owner remains undisclosed. Now, let us shift our focus to the ten most prominent Ethereum (ETH) wallets, ranked by their ETH holdings.
The list is headed by the Beacon Chain deposit contract address, which holds an immense 29,323,040 ETH, equating to 24.39% of Ethereum’s total supply. The Beacon Chain is integral to the functioning of the Ethereum network, serving as the backbone for its stakers and validators. Following closely is the Wrapped Ether (WETH) contract address, responsible for 2.62% of total ETH, or 3,149,676 ether as of the specified date. Binance, a dominant force in cryptocurrency trading, occupies the third position with its vault containing 1,996,008 ether, which constitutes 1.66% of Ethereum’s total supply.
This analysis was compiled based on data provided by coincarp.com and Arkham Intelligence. All statistics were recorded as of 8:00 a.m. Eastern Time on September 3, 2023.
The fourth-largest Ethereum vault is affiliated with Kraken and contains 1,598,924 ether, capturing 1.33% of the total supply. The fifth-largest wallet is believed to be controlled by Robinhood, as indicated by information from Arkham Intelligence. This Robinhood-affiliated vault held 1,493,001 ether as of the aforementioned date. The sixth wallet, designated as “0x831,” is under the control of Arbitrum and holds 1,199,979 ETH.
The seventh-largest Ethereum vault is another Binance cold storage facility, containing around 870,814 ether. Binance’s influence extends to the eighth position as well, where its vault holds 584,999 ETH, or 0.49% of the total Ethereum reserve. The ninth and tenth positions are both Bitfinex-controlled vaults, securing 450,118 and 428,054 ether, respectively. Binance, with its three large vaults, collectively manages 3,451,821 ether.
Bitfinex, with its pair of substantial vaults, controls a total of 878,172 ether. Out of the 29.32 million existing Ethereum addresses, the top 20 accounts hold a remarkable 36.75% of the total supply. The top 50 wallets together account for 41.57%, and by September 3, the 100 largest addresses had consolidated 46.94% of the total ether supply. While the Beacon Chain vault alone holds 24.39% of Ethereum, it is crucial to note that it represents a wide array of entities and individual contributors. Remarkably, 99 out of the top 100 Ethereum addresses control 22.55% of the total supply.
What are your views on the consolidation of Ethereum assets in these top ten addresses? We welcome your thoughts and opinions on this significant subject matter in the comments section below.
Frequently Asked Questions (FAQs) about Ethereum Wallet Concentration
What is the main focus of this article?
The main focus of this article is to provide an in-depth analysis of the concentration of Ethereum’s total supply. It reveals that a mere ten Ethereum addresses control 34.18% of the entire supply as of September 3, 2023.
Who are the key players mentioned in terms of Ethereum wallet holdings?
The key players mentioned include the Beacon Chain deposit contract, the Wrapped Ether contract, and several trading platforms such as Binance, Kraken, and Bitfinex. Robinhood and Arbitrum are also highlighted as controlling substantial Ethereum wallets.
What is the significance of the Beacon Chain deposit contract in Ethereum’s ecosystem?
The Beacon Chain deposit contract holds the largest amount of Ethereum, with 29,323,040 ETH, which translates to 24.39% of the total supply. The Beacon Chain plays a crucial role in the Ethereum network, serving as the backbone for its stakers and validators.
How does Binance’s influence manifest in the Ethereum wallet rankings?
Binance controls three of the top ten Ethereum wallets, holding a collective 3,451,821 ether. These wallets occupy the third, seventh, and eighth positions in the rankings, demonstrating Binance’s significant influence in the Ethereum ecosystem.
What is the extent of Ethereum supply concentration among the top 100 wallets?
The top 100 Ethereum wallets control 46.94% of the total supply. However, it should be noted that the Beacon Chain deposit contract alone holds 24.39%, and it represents multiple entities and individuals.
How was the data for this article collected?
The data for this article was compiled based on information provided by coincarp.com and Arkham Intelligence. All statistics were recorded as of 8:00 a.m. Eastern Time on September 3, 2023.
How does this concentration of Ethereum wealth compare to that of Bitcoin?
While the article does mention an investigation into the top Bitcoin vaults by CryptokenTop.com News, it does not provide a direct comparison between Ethereum and Bitcoin in terms of wealth concentration.
More about Ethereum Wallet Concentration
- CryptokenTop.com News
- coincarp.com Ethereum Wallet Analysis
- Arkham Intelligence Cryptocurrency Insights
- Beacon Chain Overview
- Wrapped Ether (WETH) Explanation
- Binance Official Website
- Kraken Platform
- Bitfinex Homepage
- Arbitrum Information
- Robinhood Crypto Trading
10 comments
Absolutely top-notch writing. Data was compelling, and the depth of analysis was second to none. This is the quality of journalism we need in the crypto space.
Mind-blowing stats here. If so few control so much, it begs the question, how decentralized is Ethereum really?
Intriguing info on the Beacon Chain deposit contract. It controls a massive portion but is also kind of decentralized in its own way…kinda paradoxical.
Is this for real? Feels like we’re in an oligarchy, not a decentralized utopia that Ethereum promised. What gives?
Where does this leave the average investor. It’s like a game where the rules are made by the top 10 players. Not fair at all.
If these stats are accurate, regulatory bodies will have to take notice. The concentration of assets could pose a systemic risk.
so the rich get richer, huh? not surprised but still disappointing to see the numbers in black and white.
Wow, this is an eye-opener! Never really thought just a few wallets could hold so much of Ethereum’s supply. Makes ya think, doesn’t it?
Great article, very detailed. But is this good or bad for ETH? I mean, such concentration could make the market volatile, right?
Fantastic analysis. The data on Binance’s influence alone is invaluable for anyone in crypto trading. Keep these articles comin.