• bitcoinBitcoin (BTC) $ 97,708.00
  • ethereumEthereum (ETH) $ 2,725.72
  • xrpXRP (XRP) $ 2.81
  • tetherTether (USDT) $ 1.00
  • solanaSolana (SOL) $ 198.78
  • bnbBNB (BNB) $ 661.03
  • usd-coinUSDC (USDC) $ 0.999970
  • dogecoinDogecoin (DOGE) $ 0.278704
  • cardanoCardano (ADA) $ 0.807379
  • staked-etherLido Staked Ether (STETH) $ 2,723.42
  • tronTRON (TRX) $ 0.232266
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 97,613.00
  • chainlinkChainlink (LINK) $ 19.46
  • stellarStellar (XLM) $ 0.362092
  • avalanche-2Avalanche (AVAX) $ 26.82
  • suiSui (SUI) $ 3.57
  • wrapped-stethWrapped stETH (WSTETH) $ 3,251.27
  • shiba-inuShiba Inu (SHIB) $ 0.000017
  • hedera-hashgraphHedera (HBAR) $ 0.236853
  • litecoinLitecoin (LTC) $ 128.68
  • the-open-networkToncoin (TON) $ 3.86
  • leo-tokenLEO Token (LEO) $ 9.83
  • hyperliquidHyperliquid (HYPE) $ 26.45
  • usdsUSDS (USDS) $ 1.00
  • wethWETH (WETH) $ 2,724.44
  • polkadotPolkadot (DOT) $ 5.19
  • mantra-daoMANTRA (OM) $ 7.08
  • bitcoin-cashBitcoin Cash (BCH) $ 344.29
  • bitget-tokenBitget Token (BGB) $ 5.41
  • uniswapUniswap (UNI) $ 10.06
  • ethena-usdeEthena USDe (USDE) $ 0.999471
  • wrapped-eethWrapped eETH (WEETH) $ 2,885.94
  • official-trumpOfficial Trump (TRUMP) $ 21.78
  • pepePepe (PEPE) $ 0.000010
  • moneroMonero (XMR) $ 232.45
  • nearNEAR Protocol (NEAR) $ 3.55
  • ondo-financeOndo (ONDO) $ 1.33
  • aaveAave (AAVE) $ 261.95
  • whitebitWhiteBIT Coin (WBT) $ 27.07
  • aptosAptos (APT) $ 6.13
  • mantleMantle (MNT) $ 1.04
  • daiDai (DAI) $ 0.999992
  • internet-computerInternet Computer (ICP) $ 7.26
  • susdssUSDS (SUSDS) $ 1.04
  • bittensorBittensor (TAO) $ 392.90
  • ethereum-classicEthereum Classic (ETC) $ 21.40
  • okbOKB (OKB) $ 51.82
  • gatechain-tokenGate (GT) $ 23.60
  • vechainVeChain (VET) $ 0.035493
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.324717
  • kaspaKaspa (KAS) $ 0.106912
  • algorandAlgorand (ALGO) $ 0.299441
  • jupiter-exchange-solanaJupiter (JUP) $ 0.951608
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 97,738.00
  • crypto-com-chainCronos (CRO) $ 0.091142
  • render-tokenRender (RENDER) $ 4.78
  • tokenize-xchangeTokenize Xchange (TKX) $ 30.16
  • filecoinFilecoin (FIL) $ 3.55
  • cosmosCosmos Hub (ATOM) $ 5.01
  • arbitrumArbitrum (ARB) $ 0.495477
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.806714
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.997422
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 97,843.00
  • sonic-3Sonic (prev. FTM) (S) $ 0.552614
  • fasttokenFasttoken (FTN) $ 3.94
  • celestiaCelestia (TIA) $ 3.19
  • lido-daoLido DAO (LDO) $ 1.86
  • raydiumRaydium (RAY) $ 5.70
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,722.40
  • binance-staked-solBinance Staked SOL (BNSOL) $ 205.61
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,821.96
  • optimismOptimism (OP) $ 1.15
  • xdce-crowd-saleXDC Network (XDC) $ 0.099338
  • kucoin-sharesKuCoin (KCS) $ 12.30
  • ethenaEthena (ENA) $ 0.478618
  • injective-protocolInjective (INJ) $ 15.26
  • blockstackStacks (STX) $ 0.983970
  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 97,487.00
  • bonkBonk (BONK) $ 0.000019
  • immutable-xImmutable (IMX) $ 0.821842
  • theta-tokenTheta Network (THETA) $ 1.42
  • movementMovement (MOVE) $ 0.588225
  • the-graphThe Graph (GRT) $ 0.143982
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,056.38
  • nexoNEXO (NEXO) $ 1.37
  • worldcoin-wldWorldcoin (WLD) $ 1.29
  • flare-networksFlare (FLR) $ 0.021654
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,876.42
  • usual-usdUsual USD (USD0) $ 0.997378
  • sei-networkSei (SEI) $ 0.243493
  • jasmycoinJasmyCoin (JASMY) $ 0.023359
  • galaGALA (GALA) $ 0.024593
  • solv-protocol-solvbtc-bbnSolv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 97,096.00
  • eosEOS (EOS) $ 0.669929
  • dexeDeXe (DEXE) $ 17.73
  • the-sandboxThe Sandbox (SAND) $ 0.409001
  • msolMarinade Staked SOL (MSOL) $ 251.78
  • flokiFLOKI (FLOKI) $ 0.000102
  • tezosTezos (XTZ) $ 0.917679
  • jito-governance-tokenJito (JTO) $ 3.20
  • ethereum-name-serviceEthereum Name Service (ENS) $ 27.41
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.40
  • iotaIOTA (IOTA) $ 0.247154
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,822.83
  • bittorrentBitTorrent (BTT) $ 0.00000088
  • makerMaker (MKR) $ 1,008.42
  • flowFlow (FLOW) $ 0.531506
  • wbnbWrapped BNB (WBNB) $ 660.32
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 215.72
  • pyth-networkPyth Network (PYTH) $ 0.225834
  • telcoinTelcoin (TEL) $ 0.010435
  • neoNEO (NEO) $ 11.48
  • bitcoin-svBitcoin SV (BSV) $ 39.99
  • kaiaKaia (KAIA) $ 0.134201
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 97,503.00
  • roninRonin (RON) $ 1.27
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.53
  • spx6900SPX6900 (SPX) $ 0.804800
  • usddUSDD (USDD) $ 1.00
  • axie-infinityAxie Infinity (AXS) $ 4.54
  • chain-2Onyxcoin (XCN) $ 0.022073
  • dogwifcoindogwifhat (WIF) $ 0.716353
  • tether-goldTether Gold (XAUT) $ 2,885.69
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.278179
  • heliumHelium (HNT) $ 3.95
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,876.77
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.010801
  • curve-dao-tokenCurve DAO (CRV) $ 0.527938
  • aerodrome-financeAerodrome Finance (AERO) $ 0.851181
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,727.43
  • elrond-erd-2MultiversX (EGLD) $ 23.40
  • decentralandDecentraland (MANA) $ 0.340612
  • fraxFrax (FRAX) $ 0.996433
  • arweaveArweave (AR) $ 9.67
  • berachain-beraBerachain (BERA) $ 5.86
  • paypal-usdPayPal USD (PYUSD) $ 0.999883
  • usdx-money-usdxusdx.money USDX (USDX) $ 0.999492
  • pendlePendle (PENDLE) $ 3.74
  • starknetStarknet (STRK) $ 0.238791
  • pax-goldPAX Gold (PAXG) $ 2,908.04
  • dydx-chaindYdX (DYDX) $ 0.817587
  • conflux-tokenConflux (CFX) $ 0.120667
  • beam-2Beam (BEAM) $ 0.011183
  • matic-networkPolygon (MATIC) $ 0.324750
  • chilizChiliz (CHZ) $ 0.061167
  • resolv-usrResolv USR (USR) $ 1.00
  • pumpbtcpumpBTC (PUMPBTC) $ 94,776.00
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,723.76
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,720.44
  • coredaoorgCore (CORE) $ 0.555954
  • meowMEOW (MEOW) $ 0.006114
  • insurance-2INSURANCE (INSURANCE) $ 29.11
  • aioz-networkAIOZ Network (AIOZ) $ 0.466183
  • apecoinApeCoin (APE) $ 0.742066
  • zcashZcash (ZEC) $ 33.51
  • ecasheCash (XEC) $ 0.000027
  • wormholeWormhole (W) $ 0.184228
  • kavaKava (KAVA) $ 0.486722
  • beldexBeldex (BDX) $ 0.075105
  • ai16zai16z (AI16Z) $ 0.469294
  • compound-governance-tokenCompound (COMP) $ 57.98
  • reserve-rights-tokenReserve Rights (RSR) $ 0.008986
  • newton-projectAB DAO (AB) $ 0.011105
  • true-usdTrueUSD (TUSD) $ 0.998270
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 97,769.00
  • amp-tokenAmp (AMP) $ 0.005801
  • clbtcclBTC (CLBTC) $ 97,555.00
  • morphoMorpho (MORPHO) $ 2.16
  • thorchainTHORChain (RUNE) $ 1.38
  • fartcoinFartcoin (FARTCOIN) $ 0.477146
  • akash-networkAkash Network (AKT) $ 1.93
  • based-brettBrett (BRETT) $ 0.046653
  • gnosisGnosis (GNO) $ 176.62
  • story-2Story (IP) $ 1.82
  • tbtctBTC (TBTC) $ 97,597.00
  • axelarAxelar (AXL) $ 0.494401
  • quantixaiQuantixAI (QAI) $ 85.50
  • mina-protocolMina Protocol (MINA) $ 0.363503
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000080
  • stakestone-berachain-vault-tokenStakeStone Berachain Vault Token (BERASTONE) $ 2,708.86
  • chex-tokenCHEX Token (CHEX) $ 0.434998
  • apenftAPENFT (NFT) $ 0.00000044
  • eigenlayerEigenlayer (EIGEN) $ 1.75
  • deepDeepBook (DEEP) $ 0.170528
  • olympusOlympus (OHM) $ 25.86
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 1.00
  • trust-wallet-tokenTrust Wallet (TWT) $ 1.01
  • grassGrass (GRASS) $ 1.69
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 2,970.86
  • super-oethSuper OETH (SUPEROETHB) $ 2,724.18
  • zksyncZKsync (ZK) $ 0.111323
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • usdbUSDB (USDB) $ 1.00
  • hashnote-usycHashnote USYC (USYC) $ 1.08
  • polygon-pos-bridged-weth-polygon-posPolygon PoS Bridged WETH (Polygon POS) (WETH) $ 2,724.95
  • verus-coinVerus (VRSC) $ 4.99
  • 1inch1inch (1INCH) $ 0.271539
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.08
  • echelon-primeEchelon Prime (PRIME) $ 6.86
  • snekSnek (SNEK) $ 0.004977

Top 10 Wallets Hold Majority of Market Cap in Leading Cryptos: A Closer Look

0 63

Top 10 Wallets Hold Majority of Market Cap in Leading Cryptos: A Closer Look

  cryptonewsland.com 2 h

Top 10 Wallets Hold Majority of Market Cap in Leading Cryptos: A Closer Look

Centralization as a concept has emerged as one of the focal points in the world of cryptocurrencies with fears developing around the monopolization of power by few individuals. The most recent statistics indicate that more than 10% of the total market caps for more than one hundred altcoins is held by the top 10 wallets.

Polygon (MATIC) Comes First.

Polygon (MATIC) is ranked highest in wealth concentration with 69.4% of its market cap being held by the 10 largest wallets. Such a concentration level calls to question the state of decentralization of this asset and its ability to achieve normal market flexibility in the future. Coming in third place is Shiba Inu (SHIB) with 61.2% of the market cap concentrated in the top wallets.

Uniswap and Ethereum are Also Not Left Behind

Further, Uniswap (UNI) and Ethereum (ETH) are also highly centralized coins in terms of concentration. The top 10 wallets control 50.8% of Uniswap’s total supply, while 44.0% of Ethereum’s market cap is in the largest wallets. Such centralization may shape protocol determination or system management.

Factors Influencing Wallet Concentration

Several factors contribute to high wallet concentration. Early adopters and project insiders often hold significant amounts, leading to a skewed distribution. Additionally, staking and governance requirements can result in large holdings by validators, as seen with Ethereum’s ETH 2.0 deposit contract.

Toncoin’s Healthy Distribution Shift

Toncoin (TON) recently experienced a positive shift in its distribution. While it once exhibited high concentration among top wallets, its early 2024 growth has led to a healthier distribution across more holders. This trend highlights how market dynamics can influence the concentration of holdings over time.

Conclusion

The rapid growth in the cryptocurrency market proves that opposition to the issue of centralization vs. decentralization is still topical. It is quite troubling that such concentration exists, and the concentration of holders in the leading wallets raises many questions about the future of these assets and their stability, how they are governed, and whether there is any long-term future for them. Hence, it is imperative to comprehend these trends from all perspectives.

Source

Leave A Reply

Your email address will not be published.