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Researchers at Coin Kickoff analyzed the 200 largest cryptocurrencies on the market to reveal how much of today's crypto market is controlled by whales.
The study reveals the top 50 cryptocurrencies by whale ownership percentage and the top cryptos by "golden whale" ownership percentage.
What are crypto whales?
In crypto, we use the term âwhaleâ to describe an investor with 1% or more of the total supply of a particular currency. Owning a larger stake gives them greater influence over a coinâs value and other smaller investors. Smaller investors track whales' movements and investments as a gauge for price changes to their own crypto portfolios. A new term here is the "golden whaleâ, that is the investor with the largest proportion of the total stock of a particular crypto.
In 2021, The Telegraph reported that 40% of all Bitcoin (approximately $240 billion) is owned by around 2,500 investors. This makes the coinâs supply, according to the Telegraphâs analysis, scarcer in supply for the average investor and gives crypto whales control to manipulate the coinâs price on the market.
As governments move to regulate the crypto market, there is an argument that the influence of whales should be controlled to prevent their influence from dominating a coinâs stock and potentially causing its value to crash. But what do we know about the profile of whales currently trading in the crypto market?
Key findings
Coin Kickoff has investigated the industry to find out:â Just 1.15% of Bitcoin stock is owned by a crypto whale â its founder Satoshi Nakamoto, making it the coin least dominated by whale investors.
â 96.97% of UNUS SED LEO stock is owned by a single individual, meaning they hold receipt of the largest proportion of any cryptocurrency you can own.
â Whales own more than half of a coinâs stock, with 36 of the 50 largest currencies by market cap.
Here's a searchable table of their findings, showing cryptocurrencies by whale ownership percentage.
Read the full study at: https://coinkickoff.com/crypto-whale-index-2023/
Disclaimer
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