What percentage of the total cryptocurrency supply does Ethereum control?

What percentage of the total cryptocurrency supply does Ethereum control?

The top ten Ethereum addresses have controlled 34.6% of the total supply of ETH over the past five years, which is 120.15 million ETH - an increase from 11.2%. This data was gathered by Santiment, a market intelligence platform.

The amount of Ethereum (ETH) owned has increased by 27.86 million, which is worth approximately $51.6 billion at current prices. According to Etherscan, the Ethereum block explorer, the majority of accounts are held in ETH and the Beacon deposit contract holds 27,984,650 ETH (23.3%).

The data from Glassnode shows that the active supply of Ether (ETH) is at a 5-month high of 10,018,878.755 ETH. This indicates that Ether is being actively traded amongst traders. Addresses holding large amounts of ETH include "Wrapped Ethereum" (wETH) with 3,361,754 ETH (2.8%) and "Binance 7" with 1,996,008 ETH (1.7%).

The accumulation of ETH whales has coincided with regulatory challenges in classifying digital assets. The SEC recently filed a lawsuit on June 5 against Coinbase and Binance. Gary Gensler's stance is that Ethereum should not be considered a security, which is supported by the SEC's position.

Joseph Lubin, CEO of ConsenSys and co-founder of Ethereum, discussed the classification of cryptocurrencies in an interview with CNBC on August 10. He explained that due to the decentralized nature of public ledgers, it is difficult to classify cryptocurrencies and that discussions about their classification are ongoing.

The SEC filing a lawsuit caused Bitcoin and Ethereum prices to drop. The crypto community is waiting for more information on the legal status of Ethereum and what effects it could have on markets.