One Percent of Crypto Whales Control More Than Half of Total Bitcoin Circulation Supply: Report

55% of total BTC circulation supply is entirely controlled just by just 1% of elite Bitcoin addresses. These wallets usually boast $1 min balances with more than 200 BTC

Tue, 18/09/2018 - 13:14

One Percent of Crypto Whales Control More Than Half of Total Bitcoin Circulation Supply: Report

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According to a new Diar report, 55 percent of the total Bitcoin (BTC) circulation supply is entirely controlled just by just one percent of elite Bitcoin addresses, dubbed “crypto whales.” Another peculiar revelation is that more these wallets usually boast million dollar balances with more than 200 BTC.

The study also says that nearly one-third of these gargantuan Bitcoin holdings have never been sent to other addresses. Apart from ardent Bitcoin hodl'ers, these wallets could also represent the reserves of some exchanges. It is also quite possible that some wallet owners simply cannot restore access to their private keys.

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About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.