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Report: Over 80 Percent Of Total Ethereum In Circulation Is Held By 7,572 Addresses

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Report-Over-80-Percent-Of-Total-Ethereum-In-Circulation-Is-Held-By-7572-Addresses Report: Over 80 Percent Of Total Ethereum In Circulation Is Held By 7,572 AddressesDelphi Digital, a digital asset research company, has claimed that more than 80 percent of Ethereum in circulation is controlled by 7, 572 addresses. The report revealed that 7,572 wallets which hold nearly 80 percent of the total supply of Ethereum coins are held by addresses with a more than 1000 ETH (Ethereum). The Delphi Digital research breaks down the total number of addresses by volume of Ethereum they contain and stating that 923 of them hold between 10,000 and 100,000 ETH, 6,490 addresses hold between 1,000 and 10,000 ETH, 155 between 100,000 and 1,000,000 ETH and just four between 1,000,000 and 10,000,000 ETH.

The company also asserted that the price of Ethereum has broken down an average of 19 percent after each of the past five hard forks, over the following 30 days. The most recent of the hard forks saw the price of Ethereum decrease by less than 1 percent that the report recommended this decline in market value was credited to the decrease in the block reward size from 5 ETH to 3 ETH. It was also reported that since 3rd March, more than 2.3 million Ethereum, nearly 2 percent of the total supply, was present in decentralized finance applications. A large portion of these Ethereum was said to be staked in MakerDAOsmart contract, which allows the creation and destruction of the maker’s decentralized stablecoin Dai (DAI). This smart contract portion represents 98 percent of the total ETH staked DApps finance apps.

The report also highlighted concerns over technical risks facing the Ethereum network, particularly the alleged centralized of Infura, the Infrastructure-as-a-Service arm of Ethereum-centered development company ConsenSys.