As the number of crypto investors goes up, the available supply goes down.
And ‘Whales’, or investors that own 1% or more of the total supply of a particular currency, play a massive role in influencing a coin’s value – as smaller investors track whales’ investments as a gage for price changes to their own crypto portfolios.
So which cryptocurrencies do whales have the biggest influence over?
They found that:
- 36 of the 50 largest cryptocurrencies (72%) have more than half their stock controlled by whales.
- 98.95% of stock in UNUS SED LEO (#LEO) is owned by whales — the most whale-dominant coin on the market.
- Just 1.15% of Bitcoin stock is owned by a crypto whale — its founder Satoshi Nakamoto, making it the coin least dominated by whale investors.
- Dogecoin has a near 50/50 split between whale and non-whale investors (47.03% owned by whales vs. 52.97% by non-whales).
Here’s a preview of their findings, showing the ownership distribution between whales and non-whales:
The wider study reveals the top 50 cryptocurrencies by whale ownership percentage and the top cryptos by golden whale ownership percentage.
