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Data reveals that DOGE concentration is the highest, with 62% of the Circulating Supply held by the top 50 Large Investors.
Recently, a crypto assets rating agency released an intriguing blog report that corroborated the viewpoint previously put forward by a well-known entrepreneur - the biggest problem with a certain popular crypto asset is its excessive centralization. The agency found, after comparing various mainstream crypto assets, that this crypto asset jokingly referred to as "DOGE" indeed has the highest level of centralization.
Data shows that over 28% of the circulation of this Crypto Asset is concentrated in a single address, approximately 36.8 billion coins, valued at about 2.1 billion USD at the current market price. Even more striking is that nearly half of the supply is held by the top 20 holders.
The research also listed the circulation supply ratio held by the top 50 addresses of various Crypto Assets.
The situation where "whale" accounts control more than half of the supply has raised concerns in the market. This not only increases the risk of a 51% attack but could also lead to significant price volatility. Although large holders currently have no motivation to sell, the potential threat that they might do so at any time is enough to deter new investors, including the entrepreneurs mentioned above.
This report provides a clear perspective on the concentration of the Crypto Assets market and offers valuable data support for investors when choosing investment targets.