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    NFT whales hold more than 80% of all NFTs on Ethereum

    By Ross WardropOctober 23, 2021Updated:January 28, 20222 Mins Read
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    A recent report from Moonstream, published on October 21st, has discovered that NFT ‘Whales’ hold more than 80% of NFTs on Ethereum. 16.71% of wallets, of people who are known as whales, are said to own 80.98% of the NFTs on the most popular blockchain in the space.

    Ethereum NFT Whales
    A large portion of the Ethereum NFT market is currently dominated by ‘whales’

    About NFT Whales

    NFT whales are those in the space with a large amount of capital to splurge on any NFTs they want. This is a small percentage of people. Most are still at the stage where they can’t afford some of the most popular projects like Cryptopunks or Bored Ape Yacht Club. Comparatively, these so-called ‘whales’ may be able to afford several NFTs from these blue-chip projects. In addition to this, the other time you may have heard of whales in NFTs may be Weird Whales. This was a project created by a 12-year-old and it has since been extremely successful.

    What do These Statistics Mean?

    This is a very clear imbalance between those with a large amount to spend, versus those with a lot less to spend. Although despite this, having big names in the space is positive, as they can share it with their audiences. However, this small amount controlling over 80% of the NFTs leaves the remaining 83.29% of holders to share a meagre 19.02% of tokens.

    The market however is still open for most. At mints, for example, most projects are keeping the mint price at around 0.1 ETH. This is currently $402 as we’re currently experiencing a crypto bull run, particularly for Ethereum and Bitcoin.

    Currently, according to the study, the vast majority of its participants are small-time purchasers who likely make their purchases manually. And over time, the number of whales holding projects in the NFT space will alter. This will allow for more non-whales to get their foot in the door of the ever-growing NFT market.


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    All investment/financial opinions expressed by NFTevening.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

    NFT nft research nft study nft wallet distribution nft whale statistics study wallet distribution
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    Ross Wardrop
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    A multimedia journalist and social media manager based out of Glasgow, Scotland. Massive interest in sports, specifically basketball and football.

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