New York blockchain startup Chainalysis the study of bitcoin wallets has concluded that the group of 1600 addresses controls one-third of all the coins on the market for $37.5 billion
How concentrated is #bitcoin wealth? Our latest research combines money supply analysis and proprietary blockchain data to evaluate the recent $30bn #crypto sell-off, as reported by the @FinancialTimes . Read our original post: https://t.co/p4vCFrAm8o
— Chainalysis (@chainalysis) June 8, 2018
In April of this year Chainalysis determined that there are only 1,600 wallets containing more than 1000 BTC. Together, these anonymous address of nearly 5 million coins, which is the third part of the whole bitcoin market, excluding the inactive wallets, money which in some cases are considered irretrievably lost (from 2.3 million to 3.7 million BTC BTC). So, only 100 addresses contain from 10 000 to 100 000.
“This concentration of wealth means that bitcoin is subject to the risk of volatility, because the actions of a small group of users can greatly affect the price”, — said the chief economist Chainalysis Philip Gradwell.
Moreover, the analysts came to the conclusion that long-term bitcoin investors, known as Hodler, in the period from December 2017 to April of the current year sold the first cryptocurrency to $30 billion. So, from 1600 these addresses to the category of speculators are 600 bitcoin whales.
Thus in the hands of long term investors, more than a year owns a certain number of bitcoins, BTC is 7.4 million (1.5 million BTC from this category are non-active wallets), and under the control of short-term speculators 5.1 million BTC.
It is noteworthy that in November last year the assets of hontarov higher than speculators in three times, and as of April, the number available for trading bitcoins has increased by 57%, which, according to experts of the startup, had a negative effect on the course of the first cryptocurrencies.
“Held an impressive redistribution of wealth, however, necessary to duplicate such a phenomenon the terms are unlikely to appear in the near future”, — said Gradwell.
We will remind, earlier in Chainalysis analyzed the reasons for the fall of bitcoin prices. According to company representatives, mass sale was provoked by tough action from regulators at a time when the price was pushed up only positive attitude of investors is not backed by fundamental drivers.
As a result, they are convinced, this led to “herd behavior” on the growing correlation between different exchanges and cryptocurrencies.