RATE Group | Bitcoin Wealth Inequality Drops in 2019 Unlike Ether, Litecoin: Report
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Bitcoin Wealth Inequality Drops in 2019 Unlike Ether, Litecoin: Report

19 Dec Bitcoin Wealth Inequality Drops in 2019 Unlike Ether, Litecoin: Report

Posted at 12:34h in Bitcoin News by

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Bitcoin (BTC) whales may have made headlines this month, but its wealth is more evenly distributed in 2019 — the opposite of major altcoins.

That was among the findings of research by Clovr, which analyzed wallets and transactions from various cryptocurrencies in November.

Bitcoin majority ownership requirement still top

The results showed that Bitcoin’s wealth distribution has improved versus 2018, but among the top altcoins by market cap, whales are controlling more and more of the supply. 

According to Clovr, which excluded wallets known or suspected to be attached to exchanges, Bitcoin’s Gini coefficient — a measure of wealth distribution — fell from 0.66 to 0.64 this year. 

By contrast, Bitcoin Cash (BCH) increased its Gini rating from 0.73 to 0.75, while largest altcoin Ether (ETH) went from 0.69 to 0.78.

Cryptocurrency wealth inequality

Cryptocurrency wealth inequality. Source: BitInfoCharts, Clovr

Combined with the lower number of accounts needed for whales to theoretically conspire to control the…

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