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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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Dare to trade. Dare to win.
Which Altcoins Are the Biggest Whales Holding? Santiment Revealed, Warned! "Be Careful When Investing!"
While the issue of centralization in altcoins continues to be a hotly debated topic, Santiment revealed how much of the supply is held by the largest 10 whales of some altcoins.
The crypto on-chain analysis platform Santiment shared on its X account the total supply percentages held by the top 10 wallets of some of the most important altcoins, including Ethereum (ETH), Chainlink (LINK), Shıba Inu (SHIB), and USDT.
According to this, Santiment stated that the top 10 whales of SHIB control almost 62% of the supply.
Santiment, stating that SHIB is the most centralized altcoin, said that for retail traders, it is generally safer to hold altcoins that have less supply in the hands of the largest whales. This is because the risk of sudden drops or price manipulation is lower in altcoins where a small part of the relevant supply is held if the largest whales decide to exit their positions.
In contrast, if whales start selling in altcoins where a larger portion of the supply is held by whales, the risk of sudden drops or price manipulation is higher.
*This is not an investment advice
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