Whales Still Control Leading Coins, Most Tokens
Cryptovest
Published Dec 19, 2019 06:47AM ET
Updated Dec 19, 2019 08:02AM ET
Whales Still Control Leading Coins, Most Tokens
Most of the leading coins are still held by a small group of whales, and have not reached significantly wide adoption, a new report by Clovr shows. The discovery shows whales control the tokens even after accounting for exchange wallets.
In the case of Litecoin (LTC), just 189 addresses with high net worth could end up with more than 50% of the coins. LTC is not a proof-of-stake coin, so ownership is not as important, but still the wealth inequality is significant.
For Ethereum (ETH), just 322 “whale” wallets contain more than 50% of coins - a serious implication, given ETH will aim to include staking in its future upgrades.
The situation is a ...
This article appeared first on Cryptovest
Get The News You Want
Written By: Cryptovest
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.