Weekly Sanbase Pro market report: On Bitcoin Whales & HODLers

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Santrends
Aug 28, 2020

Crypto is still a whale’s playground


Out of 855 assets that we track on-chain data for, 727 have >50% of their total supply located in the top 100 addresses.


For the time being, cryptocurrencies can only promise the decentralization of their network - not of their supply.


Pictured: combined balance of large MANA and SNT holders (in yellow), respectively, falling off a cliff before an imminent price correction (in green). The market performance of cryptoassets with a majority of their circulating supply located in ‘whale wallets’ is often extra sensitive to the behavior of their largest holders.

Bitcoin supply is dominated by whales


85.3% of the total supply of BTC is found in addresses owning more than 10 BTC (~$113,500 at current prices).


61% of Bitcoin’s total supply is currently in the hand of BTC ‘millionaires’ (addresses owning 100+ BTC).

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Assets from this insight

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BitcoinBTC

$ 10665.63

2.69%in last 7d
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