Tuesday, February 25, 2020

80% Of All Ethereum Are Held In 7,572 ETH Addresses, Report Shows

Babatunde Modupe
I am a freelance writer, Poet, blogger and cryptoenthusiast that is totally interested in blockchain technology and sharing it's Information with others.

Recent research by a digital asset research company, Delphi Digital reveals that 7,572 addresses hold over 80 percent of Ethereum cryptocurrencies in circulation today.

Addresses Hold Over A Thousand Ethers

According to the report, it noted that over 80 percent of Eth in circulation are held in the addresses with a balance higher than 1,000 ETH. The total sum of the addresses is noted as 7,572.

Also, the report of the research broke down the total number of these addresses by the volume of ETH they contain. It noted that about 6,490 addresses hold between 1,000 and 10,000 ETH, 923 addresses hold between 10,000 and 100,000 ETH, 155 between 100,000 and 1,000,000 ETH and only four between 1,000,000 and 10,000,000 ETH cryptocurrencies.

Further, the report by the company revealed that the price of ETH has dropped by an average of 19 percent 30 days after each of the past five hard forks.

Meanwhile, the last hard fork before the recent Constantinople and St. Petersburg updates only saw Eth’s drop by 1 percent. The report noted that this could have been caused by the decrease in block reward from 5 ETH to 3 ETH.

2.3 Million Ethers Staked In Decentralized Finance Apps

Delphi Digital also revealed in the report that the total number of Ethers are staked in decentralized finance apps. It noted that as of March 3, over 2.3 million Ethers which is said to be about 2 percent of total supply.

About 98 percent of the ETHs staked in decentralized finance app is reportedly in MakerDAO smart contracts, which permits the creation and destruction of the Maker’s decentralized stablecoin, Dai (DAI). Also, the second decentralized finance app with the most staked ETH is the decentralized lending platform, Compound, which holds about 28,500 Ethers.

Risk Ahead

Further, the report noted the future risk of Ethereum. It raised concerns about the alleged centralization of Infura the infrastructure-as-a-service arm of Ethereum-focused development company, ConsenSys. This aids DApp developers to deploy their DApps without hosting their full nodes.

But, the report argued that developers rely on an infrastructure entirely operated by ConsenSys and hosted by Amazon Web Services, which creates a single point of failure that decentralization is meant to avoid.

Notably, Delphi Digital is a company that aims to produce unbiased content concerning digital assets and Distributed Ledger Technology (DLT) and to provide analysis services to institutional clients.

This Week in Crypto

Cisco Meraki Launches Phunware Location Based Services in Meraki Marketplace

AUSTIN, Texas--(BUSINESS WIRE)--$PHUN #AI--Phunware, Inc. (NASDAQ: PHUN) (the “Company”), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for...

Global Crypto ATM Market Analysis, Trends, and Forecasts 2019-2025 – ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Crypto ATM - Market Analysis, Trends, and Forecasts" report has been added to ResearchAndMarkets.com's offering. Crypto ATM market worldwide is projected to grow...

NTT Research to Collaborate with UCLA and Georgetown on Cryptography and Blockchain

NTT Research CIS Lab Focused on Information Security Announces Two Joint Research Agreements PALO ALTO, Calif.--(BUSINESS WIRE)--#BayArea--NTT Research, Inc., a division of NTT (TYO:9432), today...

Global Healthcare Cloud Computing Market Expected to Grow at a CAGR of 25.1& Over the Forecast Period, 2018-2023 – ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Healthcare Cloud Computing Market, Forecast to 2023" report has been added to ResearchAndMarkets.com's offering. Global healthcare cloud market revenue is expected to...
- Advertisement -