8% of Ethereum Addresses Hold One-Third of ETH’s Circulating Supply, Report Finds

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8% of Ethereum Addresses Hold One-Third of ETH’s Circulating Supply, Report Finds

A recently published report has found that only 8% of ether’s addresses hold over one-third of the cryptocurrency’s circulating supply, with some ETH holders being ICO participants.

According to CoinDesk, blockchain intelligence firm IntoTheBlock has revealed that ether’s price drop from its near $1,400 all-time high to its current $128 price has seen 90% of its 31.31 million addresses be “out-of-the-money,” meaning they acquired ether at an average price higher than the cryptocurrency’s current value.

A large amount of these out-of-money addresses, CoinDesk reports, purchased their ether in the $211 to $530 range, while 4.77 million addresses bought in between $262 and $352. About 3.58 million bought in between $745 and $1,340.

Only 8% of the total number of ether addresses, the report reads, are “in-the-money,” which means their acquisition price was below ether’s $128 price tag. 1.78% of addresses have an average purchase price equal to ether’s current spot price.