The last twelve months have been very different days in the crypto world. Especially recently, Ethereum and other altcoins have benefited from the revival of the BTC price. The leading cryptocurrency is up more than 160% in 2023. Even amid all this turmoil, crypto remains an attractive money-making business. Take the record 19 billionaires (7 more than last year) who made their fortune after investing in cryptocurrency and blockchain technology.
Who are the largest altcoin holders?
Altcoin purchases of billionaires were quite similar. In addition, when Elon Musk and other crypto billionaires’ accounts were examined, very interesting tables were seen. What connects Elon Musk and Michael Saylor, the Winklevoss Twins who own crypto exchange Gemini? They are all tied to some kind of altcoin project. Musk and Tesla have mostly stuck to Dogecoin and Bitcoin, respectively. Because, the other two names have significant amounts of Bitcoin assets.
When it comes to Ethereum, it’s a completely different story. Even the largest altcoin ETH holders are often out of the limelight. However, data from Etherscan revealed that the largest holders of ETH in 2023 are crypto exchanges. This shouldn’t come as a surprise considering ETH is available on every exchange. Beacon Chain Contract holds more than 35 million ETH. Additionally, it controls more than 29% of all ETH tokens in circulation, making it the largest ETH holder as of December 28, 2023. In second place is Wrapped ETH (WETH) with more than 3.2 million. ETH is worth approximately $7.7 billion.
Binance, the world’s largest crypto exchange, has approximately more than 2 million ETH. This makes it the third largest single address for ETH. Kraken, which was sued by the US Securities and Exchange Commission (SEC) last month for deceptive practices, took fourth place with assets of approximately 1.6 million ETH. Popular trading platform Robinhood ranks fifth on the list. At the time of this writing, it has more than 1.4 million altcoin ETH under its belly. It also accounts for approximately 1.24% of all ETH tokens in circulation.
Vitalik Buterin also has ETH
It is noteworthy that the other two wallet addresses in the top 10, each with more than 550,000 ETH, are linked to the crypto exchange giant Binance. Rounding out the top 10 is Arbitrum: Bridge with more than 1.3 million assets. Additionally, the next largest account is Bitfinex with over 450,000 ETH. It is also seen that the ETH address named VB3, affiliated with Vitalik Buterin, one of the founders of Ethereum, contains more than 240,000 ETH. So, we can say that the largest altcoin project by market value is quite popular.
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