The majority of DeFi tokens are in the hands of the top 500 holders

A latest analysis shows that DeFi tokens are not widely distributed. Up to 90% of DeFi tokens are held in the top 500 crypto wallets.

CryptoLab’s Digital Assets Investments co-founder, Simone Conti, said that much of the DeFi token supply is centralized and not widely distributed.

Aggregating data from Defi Pulse and Etherscan, Conti shows that 90% of DeFi project tokens are in the 500 most valuable wallet addresses. In particular, the number of 3 DeFi projects alone is up to 99%.

According to Conti, Compound is a project “most concentrated” in the group of 10 projects included in the survey, with 96% of the supply held in several dozen wallets in the top 50.

The top 5 wallet addresses containing the majority of DeFi project tokens hold more than 40% of the total supply respectively. Conti observed that projects born before the recent DeFi boom tended to be more widely distributed than those that emerged later.