Highly Bullish: Top 10,000 Addresses Hold 94% of the Available ETH
An audit of Ethereum’s top 10,000 wallet addresses suggests an incredibly bullish outlook: Ethereum 2.0 staking will likely cause a new bull run.
Analyst Adam Cochran has done a manual audit of Ethereum’s 10,000 biggest wallets and discovered that:
– 17% of Ether (ETH) is held by just 10 addresses;
– the top 10,000 addresses hold around 56.7% of the available tokens, which is comparable to Bitcoin (57.44% of BTC is held by the top 10,000 wallet addresses);
– ETH is used 440 times more than Bitcoin for transacting;
– there has also been an influx of new ETH whales coming from fiat;
According to Cochran, staking ETH will bring initial ROIs of 12-17%, before finally levelling out at 4–6%.