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Researcher and analyst Adam Cochran and his team shared remarkable information about the participation of major companies in the cryptocurrency market. Analyzing 10,000 wallets with the most ETHs on Ethereum, Cochran and his team determined that some of these wallets are related to JPMorgan, IBM, Microsoft, Amazon, and Walmart.
Within the scope of the study, 10,000 addresses were manually examined and 17 percent of Ethereum was found to be held in just 10 directions. A total of 16.6 million ETHs are stored at these addresses. The top 10 thousand addresses have about 94 percent of all ETHs. However, most of the money is held and used in smart contracts. Removing them from the equation shows that the 10,000 largest Ethereum addresses actually contain 56.7 percent of the total ETH. In this regard, Cochran emphasizes that the distribution of money on Ethereum is fairer than Bitcoin. In Bitcoin, this rate is 57.44 percent.
Perhaps most surprising of Cochran’s findings are the wallets associated with major players like JPMorgan, Reddit, IBM, Microsoft, Amazon, and Walmart. In determining that these addresses accrue ETH, it is unclear why this is the amount of ETH accrued or if it is a corporate company. However, it is possible to estimate that the mentioned companies have a significant amount of ETH, considering that the associated wallets are among the top 10 thousand wallets. To be the 9999th out of 10,000 Ethereum wallets, you need to keep at least 750 ETH. Also, these companies are known to work at Ethereum.
Grayscale also noted that institutional investors received ETH
On the other hand, Grayscale’s Ethereum fund, one of the largest investment companies in the cryptocurrency field, has recently gained unprecedented interest. The total amount of money entered into the fund, which received an investment of $ 110 million in the first quarter of 2020, was $ 96 million. The asset management company currently owns 1 percent of the total ETH supply.
Institutional investors’ interest in Ether is likely due to the upcoming Ethereum 2.0.
Disclaimer: What is written here is not an investment recommendation, but the author’s opinion. Cryptocurrency investments are high risk investments. If you do not have enough experience and knowledge, it is recommended to seek help from a consultant. Each investment decision is under the responsibility of the individual. Uzmancoin and the author of this content are not responsible for personal investment decisions.
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