The Top 10 ETH Whales have increased their ownership from 11% to nearly 35% of the ETH supply, in just 5 years. Acknowledge the bad things just as the good ones…

One of the most popular topics when we talk about a singular Crypto itself has often proven to be the so-called "Whale manipulation", which is basically all about how "bad" the wealth distribution of the Crypto is and how juts a handful of the biggest addresses could potentially move the whole oirve just as they want. d

This is a topic that already gets heated when we turn to the #2 Crypto, the queen, ETH. While indeed BTC has also some very powerful whales (like the infamous #3 biggest BTC wallet), we have to remember that almost all of them started buying BTC very early on and could accumulate literal fortunes for cheap prices. ETH meanwhile has been relatively new with the ICO in 2017.

​

Chart showing ETH Top 10 addresses allocation

Still it seems like there has been some more than extensive accumulation by ETH whales, creating a massive stronghold for the Top 10 ETH wallets. 5 years ago those wallet were already owning a staggering 11% of the whole circulating ETH supply, but now that has literally skyrocketed to a massive 35% of the ETH circulating supply.

That is literally 27.8M ETH, which makes up a fortune of about $51B right now, probably way bigger during a bull market.

Of course that is not a healthy wealth distribution at all and the Whales seems to be very smart about this as they have continously accumulated even during the depths of this bear market. They know the longterm potential of an asset like ETH and surely won't sit down just yet. We should not either.