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EOS Top 10 Holders Could Affect The Market

EOS authority earlier made available a copy of their genesis snapshot results, with the report revealing how the final distribution of tokens worked out and how much holders of the EOS token get. Here are some interesting facts from the report released by EOS Authority.

To start with, the largest EOS holders are cryptocurrency exchanges. Since the exchanges won’t release much information, there is no way of knowing how many people were holding their EOS tokens on their exchanges. As far as we know, the tokens could be held by a few whales or it could be held by thousands of other casual traders.

From the report, it can be seen that the top 10 richest holders have over 20 million EOS tokens. In the top 100, the average holding is 646,000 tokens while to be considered amongst the top 1,000 holders, you will have to hold 43,000 tokens. Looking at the released data, the top 10 holders were holding over 490 million EOS tokens, which represents roughly 50% of the nearly 1 billion tokens available. The top 100 holders had a total of over 748 million tokens or 74.82% of the total 1 billion EOS tokens and the top 1000 holder were in control of over 858 million tokens or 85.81% of the total tokens.

The remaining 13.86% of the total tokens are left for those hodling less than 1,000 tokens. The data includes the shares held by Block.one, EOS parent company which is in control of 100 million tokens or 10% of the total number.

From the revealed data, the top 10 holders of the EOS tokens are very powerful whales and with the huge number of tokens they control, they could alter the EOS market if they decide to do the same thing. Also, any trader and investor who is in the top 1000 would also have an influence on the EOS market.

The EOS MainNet launch was one of the most anticipated events in over the past few months. The EOSIO platform which has been created to provide competition to Ethereum by offering a platform for developers to build their projects and smart contracts was able to raise $4 billion in its ICO. This figure is the biggest in the history of the cryptocurrency space.

The EOS price has subsequently been affected as it has gone up by more than 10% over the past 24 hours, and is currently trading above the $15 mark.

There are wide expectations that the EOS network will become very huge in the future as more cryptocurrency projects are developed due to the increased popularity of digital currencies.

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Nicholas Holden

A chemical engineer who got obsessed with cryptocurrecnies. Holds small fortune in BTC, PVX and MIOTA. Nick's regular trading in the crypto space makes him come across exclusive news around the industry. Email: nick@blockpublisher.com or email the editor at editor.news@blockpublisher.com

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