Whales hold a third of all ETH, Chainalysis finds

Just 376 people hold more than 30% of all ether, Chainalysis research shows. Chainalysis excluded exchanges from their research, which tend to hold enormous amounts of ether on behalf of their users.

The 376 holders are responsible for a relatively small volume of transactions (approximately 7%) and don't have a strong influence on the price of the cryptocurrency. However, Chainalysis noted that the transactions that they make do make the market more volatile.

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