Cryptocurrency analysis firm Santiment has published a remarkable report on the supply distribution of Ethereum-based assets.
According to the analysis, a large portion of the supply of many popular altcoins is held by just the top 10 wallets.
According to the data, Shiba Inu (SHIB) has the highest centralization rate. The top 10 wallets control 62.3% of SHIB's total supply, followed by Uniswap (UNI) with 52.2% and Ethereum (ETH) with 51.0%.
The situation for other prominent altcoins is as follows:
- Tether (USDT): 40.5%
- Pepe (PEPE): 39.4%
- Chainlink (LINK): 31.5%
- Dai (DAI): 31.0%
- USD Coin (USDC): 28.6%
Santiment stated that this data has revived discussions about “centralization,” particularly for investors. The intense dominance of large wallets over supply is considered a risk factor, as it could lead to sharper price fluctuations.
It's also noteworthy that three of the seven altcoins on the list are stablecoins. However, it's important to note that the list only includes altcoins from the Ethereum ecosystem.
*This is not investment advice.
