On-chain data shows over half of the Ethereum supply is held by just 10 addresses. Here’s how other ETH-based tokens like Shiba Inu stack up.

Shiba Inu, Uniswap, & Ethereum Are Among The Most Centralized ETH Tokens

In a new post on X, on-chain analytics firm Santiment has talked about how the different assets in the Ethereum ecosystem line up against each other in terms of the amount of supply that’s concentrated on the top 10 wallets.

Below is the chart shared by Santiment that shows the trend in this metric for eight cryptocurrencies over the past few months.

From the graph, it’s visible that 51% of the Ethereum supply is owned by the 10 largest wallets on the network. This is more than most of the other ETH-based tokens on the list.

The two coins that are ahead in this metric a

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