Cryptocurrencies
Just 318 Crypto Addresses Control 80% of Tether
- Coin Metrics says accounts hold $1 million or more of coin
- Controversial token serves as basis for most crypto trading
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The cryptocurrency world is even more concentrated than most observers probably realize.
While large holders of Bitcoin that are commonly referred to as whales own almost a fifth of the largest cryptocurrency, researcher Coin Metrics says the unique identifiers known as addresses show that only about 300 entities control around 80% of Tether, the token that serves as a conduit for trading on many of the world’s largest crypto exchanges.