Wealth of Bitcoin owners and investors is more equally divided compared to all Altcoins this year. This is despite the fact that major Bitcoin investors, whales, have been in a lot of crypto news these past months. According to a Clovr blog post, in which the writer looked into crypto transfers and the value of coins in the wallets last month, the allocation of wealth of the first crypto coin has improved compared to the previous year, 2018. In comparison with this cryptocurrency, other crypto assets with large market caps are mainly controlled by large investors.
During their research, Clovr overlooked crypto wallets that were rumored to be or were attached to a cryptocurrency exchange platform. The measure of Bitcoin wealth distribution dropped to 0.64 from last year’s 0.64. Whereas, the second largest crypto coin, Ethereum rose from 0.69 by 0.09 and Bitcoin Cash went from 0.73 to 0.75.
Altcoins are more defenseless against whales than Bitcoin, because of the smaller market capitalization. In order for Bitcoin whales to manipulate the market, they need to have at least 4,545 crypto wallets. However, when you look at Ethereum, whales need to take control of only 322 wallets and, in case of Bitcoin Cash, slightly over 1,100.
For their study, Clovr took a look at TOP 10,000 accounts for every coin. They also emphasized that cryptocurrencies with market capitalization of under 100 million USD are especially at risk when it comes to market manipulation. The smaller the market cap of a coin, the larger is the inequality of wealth division among investors. Hence, if you are concerned about centralization of crypto coins, you should probably stay away from very small currencies.
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from Crypto – Bitcoin News, Forecast and Analysis https://www.cryptocynews.com/clovr-reasearch-crypto-wealth/
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