Data analyst Adam Cochran and his team conducted an exhaustive study of 10,000 wallet addresses from Ethereum (ETH), which revealed information about the participation of global companies in the crypto market. There are wallet addresses associated with ETH holding JPMorgan, IBM, Microsoft, Amazon and Walmart due to its bright outlook, according to the Cochran findings.
Cochran manually reviewed the top 10,000 ETH addresses within the study, which represent 91.7 million ETH and thus 56.7 percent of the total offer. The data analysis found yielded information on liquidity, profitability, market manipulation and, most relevantly, the behavior of the whales of Ethereum. The study states that only 10 addresses store 17 percent of the total ETH offer. This corresponds to a number of 16.6 million ETH.
By this comparison, the study claims to disprove the Ethereum’s centralisation, the top 10,000 addresses of Bitcoin represent 57.44 percent of the total supply with 10.54 million Bitcoin.
So the distribution between these cryptocurrencies is virtually the same. On TRON 1031 addresses, by contrast, have 51.1 percent of the total TRX; 55.2 percent of Ripple’s XRP token is distributed in 16 addresses, and 54.3 percent of Litecoin’s supply is distributed in 300. The study states that Ethereum and Bitcoin “are in a league of their own” in terms of the distribution of their supply.
The study was able to determine, in addition to discovering Ethereum wallets associated with JPMorgan Chase, Reddit, IBM, Microsoft, Amazon and Walmart, that all of these addresses accumulate ETH. The study, however, can not determine the reasons for this, the amount of ETH accumulated, nor is it a corporate initiative.
Despite this, it is possible to speculate that, given that they are in the top 10 thousand addresses, the companies mentioned have a significant amount of ETH. ETH’s accumulation through institutions is evidenced by viewing the latest report from Grayscale. The asset management company owns 1% of the supply of ETH and has significantly increased its acquisition rate over the past few months.
Because of its bullish outlook, institutions, investors and companies like the ones mentioned may be accumulating ETH. An earlier Cochran study has already shown how the launch of Ethereum 2.0 could be an extremely bullish event for the price of ETH. Cochran argues in his study that Ethereum 2.0 will be the driver of “economic change” without precedent.
According to Cochran, when the level of ETH staked starts to rise a supply shock will occur. This will be driven by increased demand from investors and whales for ETH, who are competing for available ETH.