There are many Bitcoin whales that are often caught by blockchain parsers and featured in the media, but Ethereum whales haven’t received much attention. According to 2022 statistics, there are far more Ethereum whales than Bitcoin high-value holders. In fact, the top 100 most abundant Bitcoin addresses control 14.08% of circular supply, while the top 100 most abundant Ethereum addresses hold 39.81% of all Ethereum today.
Data show that Ethereum is still highly concentrated in whales in 2022
Ethereum, the second largest crypto asset by market capitalization, has an overall US dollar valuation of approximately $ 348 billion. Ethereum has a market capitalization of $ 1.89 trillion, which is 18.3% of the net worth of the crypto economy. Although major crypto assets have existed for nearly seven years, 100 addresses make up 39.81% of the Ethereum currently in circulation. However, if you subtract the Ethereum 2.0 contract address, which holds 10.06% of the Ethereum currently in circulation, 99 wealthy addresses own 29.75%.
With only the top five most abundant Ethereum addresses, 5.17% of ETH supply is controlled by the wrapped Ethereum contract, 1.78% of ETH supply is held by the trading platform Kraken and 1.68% is held by Binance. Many of the 100 most abundant Ethereum addresses are centralized exchange platforms and decentralized finance (defi) protocol reserves. This includes exchanges and protocols such as Bitfinex, Okex, FTX, Polkadot Multi-Sig, Arbitrum’s bridge, Lido and more. After the 57th largest Ethereum address, most of the rest are unknown purses or just whales.
Into the Block statistics show addresses that own more than 1% of the circular supply and addresses that own between 0.1% and 1% of the circular supply, which is equivalent to 41%. These same metrics applied to Bitcoin’s top 100 addresses correspond to 10%. From this point of view, the data show that there are far more ether whales than the concentration of large Bitcoin holders. In addition, some of these Ethereum whales are making their own names as blockchain parsers are beginning to monitor their activities more often.
Meet some of Ethereum’s most famous whale addresses — — Light, rock, Tsunade, Bluewhale0072, Bluewhale0073
For example, whalestats.com offers an interesting perspective on Ethereum, which holds not only Ethereum, but also tokens and non-fungible token (NFT) assets. Whalestats.com labels the rich list and the top five addresses include the wallets “Light”, “Locke”, “Tsunade”, “Bluewhale0072” and “Bluewhale0073”. The wallet Bluewhale0073 has recently been attracting attention by buying and selling large quantities of Shiba Inu (SHIB). Whalestats monitors whales that are “valued at an average of $ 75,905,160, worth an average of 10,236 ETH, 34 tokens, and 1 NFT.”
The address called Light is currently worth more than $ 17.9 billion and holds 136 NFTs from 54 collections. None of the NFTs are very valuable, but Light’s SHIB stash is worth $ 786.69 million. Light also holds $ 218.74 million in CRO and $ 217.08 million in Tether (USDT). The whale Ethereum hiding place is worth $ 87.57 million, as the light holds 30,320 ethers. Light also has millions of dollars in US dollar coins (USDC), engine coins (ENJ), sandboxes (SAND), and decentraland (MANA).
The address, called Locke, currently holds $ 13.52 billion in digital assets. Locke holds 151 NFTs from 53 different collections and holds $ 109.3 million worth of Ethereum. Locke also owns millions of dollars worth of BAT, SAND, UPXAU, MATIC, SHIB, LINK, FTM, and APE. This address also includes hundreds of thousands of dollars worth of ENJ, USDC, USDT, GRT, SRM, SPELL, and QNT. The address of the whale, called Tsunade, has $ 186.9 million and 162 NFTs from 57 different collections. Tsunade’s USDT is $ 60.07 million, SHIB is $ 40.44 million, and ETH is $ 36.5 million.
Bluewhale0072 is the fourth largest ether whale on whalestats.com and its address contains 100 NFTs from 37 different collections. The wallet is currently worth $ 67.4 million and $ 40.67 million in wallet funding is held on Tether (USDT). Bluewhale0072 also holds the majority of wrapped Bitcoin (WBTC) and today holds $ 4.99 million worth of WBTC. As mentioned above, Bluewhale0073 has been written on several occasions and recently. This is because Bluewhale0073 may buy a large amount of Shiba Inu (SHIB).
The US $ value of Bluewhale0073 today is $ 122.98 million and the wallet owns only 10 NFTs from 4 different collections. Most of the wealth of Bluewhale0073 is in Ethereum (ETH). This is because the wallet holds $ 114.53 million Ethereum today. Bluewhale0073 also holds $ 5.53 million in USDT, $ 1.75 million in USDC, $ 640,000 in MATIC and $ 19,324 in SHIB. It was reported that Bluewhale0073 had purchased millions of dollars of SHIB, but this address sold most meme coins and exchanged them for other coins such as ETH.
We do not know who all Ethereum whales are, but they can be regularly captured and tracked by blockchain analysis. Cryptocurrency whales are always a mystery and are called whales because they are huge compared to other small fish in the digital currency industry. Like sea whales, crypto whales can cause large, unstable waves within the crypto economy.
What do you think of the Ethereum whale today? Please let us know what you think about this subject in the comments section below.
Image credit: Shutterstock, Aliexpress, Wiki Commons, whalestats.com, Into the Block, coincarp.com
Disclaimer: This article is for informational purposes only. This is not a direct offer or solicitation for a purchase or sale, or a product, service, or company recommendation or approval. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Both the company and the author, directly or indirectly, with respect to any damage or loss caused or allegedly caused by or in connection with the use or trust of the content, goods or services described in this article. We are not responsible.
