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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.
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