However, the hording is limited to 20% of miners.
Its likely that mines are converting their mining operation to staking operation once Phase 0 goes live. Mining operation has hard costs associated with electricity, rented space, computational hardware etc for which miners regularly need to sell to continue the operation. This is the first time that miners have accumulated Ethereum in this manner or number. In the past 6 months, miners have accumulated 1.15M ETH ($230M USD). The top 10k wallets analysis also revealed that miners have started to accumulate Ethereum. In contrast, only 65,160 BTC has been used for payments processing, in the same time frame.
Since 16.2M ETH has been active in the last 90 days being used as money or gas. When it comes to usage, Ethereum is used 440x times more than Bitcoin for transacting. The genesis level buyers who claimed their funds (around 98%) still hold around more than 75% of the purchased tokens. The Ethereum founders, core developers and grant receivers display great confidence, regarding the state of things at Ethereum and in its future by still holding most of their funds (atleast 56.4% of their original Genesis ether). The Founders/Core Developers Confidence In the Project These idle funds are 1.7M ETH and worth around 340M at the current price. The audit found that there are 347 genesis addresses in the top 10k wallets that failed to ever claim their tokens. The findings confirm that $100M Ethereum has been purchased in the last 6 months, by new large holders. These new addresses often bought $100,000 – $250,000 worth of Ethereum and represent about 6% of the top 10K addresses. The top 10K addresses have significant number of new accounts making large scale purchases of Ethereum. The whales have purchased a total of 650M Ethereum in the last 6 months. The existing whales have increased their position by 4% in the past 6 months ($550M inflow). The level of activity is rising in the top accounts, compared to all addresses, indicating that the whales are accumulating more ETH. 14.02% was in cold storage (1year + idle), 9.71% was idle (1month – 1 year no activity) and 1.76% was locked in time locked contracts. For instance, 64.53% of the Ethereum in top wallets has been on exchange or spent in the past 30 days. The top 10K wallets check revealed another interesting finding. It will level off at 4-6% once Ethereum 2.0 deploys completely, but that might be a couple of years away. The staking returns are likely to be 17-20% yield in the beginning, it will drop to 6-8% once staking services are common and accessible to most. It brings the total of the tokens which can be realistically staked in the 22.3M ETH tokens range (out of 44.6M ETH). Early majority representing 34% can do 15.1M. Early adopters representing 13.5% of the staking base can stake 6M. This is based on the finding that only 44.6M ETH can be staked in absolute total.īased on the distribution model, there are likely to be:Īs per the model, innovators representing 2.5% of the staking base can put 1.15M ETH to use. Mr Cochran used a slightly adapted standard distribution model to determine how much Ethereum will be staked in the launch time frame and after the product has matured. Realistically, its not possible that all 44.6M tokens will be staked. Once Ethereum 2.0 Phase 0 launches in July or August 2020 (Vitalik Buterin confirmed recently that the launch is well on track). This figure was determined after refining the data from all possible exchange held, smart contract locked and lost/inaccessible tokens. The analysis found out that only 44.6M ETH tokens (out of 110M absolute total) are in a state to be staked. How Much Ethereum Can Be Staked In Total? It means that 9% of the supply is lost forever and the circulating supply should be considered to be around 100M tokens. It was found in the analysis that 6.2M ETH tokens are confirmed burned and another 3.8M ETH tokens are likely burned or lost. The total number of ETH tokens in existence is generally believed to be around 110M, however thats technical incorrect.Its a figure that indicates the total number of ETH tokens that ever came into existence and doesn’t include corrections for lost, burned or inaccessible tokens. Tron (TRX) – Top 1031 holders 51.1% of the supply.Litecoin (LTC) – Top 300 holders control 54.3% of the supply.
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