This Ethereum Metric Has Sparked Centralization Concerns Over ETH Ownership

Crypto blockchains are designed to be fully decentralized so that no single person or group has control. However, new data has shown that the top 10 Ethereum addresses control over 35% of the total ETH supply. For a network that was designed to be decentralized, this has sparked some serious concerns over how centralized ETH has become. 

The 10 Largest Ethereum Addresses Hold Over 35% Of The Available Supply

While sharing the metric on social media platform X, crypto market intelligence platform Santiment showed how holdings of the 10 largest Ethereum addresses have now climbed to 35% of the total supply.

This indicates that while small traders have been trying to offload their supply during the recent price crash, many ETH whales are taking the chance to buy the dip.