The 376 holders are responsible for a relatively small volume of transactions (approximately 7%) and don’t have a strong influence on the price of the cryptocurrency. However, Chainalysis noted that the transactions that they make do make the market more volatile.
“Whales consistently hold 25-40% of the circulating supply of Ether, but only account for between 5% and 18% of economic transaction volume,” report reads. Most of them are not active holders. In fact, as much as 60% of their holdings is held off exchanges.
Whales hold a third of all ETH, Chainalysis finds written by Carol Gaszcz @ https://www.theblockcrypto.com/tiny/whales-hold-a-third-of-all-eth-chainalysis-finds/?utm_source=rss&utm_medium=rss&utm_campaign=default May 16, 2019 Carol Gaszcz