Santiment, a crypto data analysis agency, released data on the X platform on the percentage of the total cap of some of the most mainstream altcoins currently held by the 10 largest wallets, as follows:
MATIC: 69.4%
SHIB: 61.2%
UNI: 50.8%
PEPE: 46.1%
ETH: 44.0%
USDT: 33.1%
LINK: 31.1%
TON: 27.5%
DAI: 24.5%
USDC: 19.0%
Santiment said that several factors affect whether the holdings of assets in whale wallet addresses are highly concentrated or low. For example, early adopters or project insiders may hold a large amount of funds, resulting in high concentration (such as TON). Or the token could be used heavily for staking or governance, requiring validators to hold a large number of tokens (as is the case with Ethereum and its ETH 2.0 deposit contract, which currently holds 35.4% of the supply). Additionally, tokens that are widely distributed via airdrops or community rewards may have a more decentralized distribution (such as Arbitrum).