Home / Altcoins / 33% of the entire Ether Cryptocurrency is held by only 376 individuals : Chainalysis Report

33% of the entire Ether Cryptocurrency is held by only 376 individuals : Chainalysis Report

Now whales, as defined by Chainalysis, are the top 500 holders of cryptocurrency who tend to store their holdings off exchanges. Moreover, it was also revealed in the same study that only 7% of all the transactions is what these ether whales are accountable for.

Although 33% of all the ether crypto is held by just a few whales, this seems to have no significant impact on the ETH price. However, a notable change or enhancement might be seen in the intraday volatility in the cryptocurrency market whenever they make large sell-offs.

Interestingly it was also found that the majority of these individuals were actually not even active traders. This simply means that although they are holding their assets they aren’t regularly trading on cryptocurrency exchanges.

It can also be observed from this fact that since the majority of them are not active traders, they consistently hold almost 40% of the circulating supply of ETH whereas they account only for 5-18% of transaction volume.

Finally, Chainalysis concluded their whole study with a brief note of their own views. Chainalysis said

“These preliminary findings are consistent with the literature on stock market prices and volatility. Academics have found that large anomalous fluctuations in traded volumes of particular stocks, notably the S&P 500, tend to impact volatility and not price levels.”

About Zaryab Afser

A stock market trader, a blogger , a cryptocurrency enthusiast ... Awareness of proper trend and Action at the correct time are the 2 most imperative tools to succeed in the crypto world. He will undoubtedly provide you with the first tool. Moreover he ensures that his readers never miss any data or news of the crypto world that might end up shifting your trade to the zenith of its glory. Cheers.

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