Bitcoin wealth inequality dropped in 2019 meanwhile altcoins went the opposite way
A report published by Clovr analysis firm showed that market inequality has been decreasing in 2019 for Bitcoin (BTC) hodlers, but the same has not happened for other cryptocurrencies.
According to the survey using the Gini Index, which considers the 10,000 richest addresses, Bitcoin’s wealth distribution improved from 2018, going from 0.66 to 0.64 in 2019.
It may not seem like very a significant improvement, but it is a considerable advance – and is also the best performance compared to different cryptocurrencies.
This year, Bitcoin Cash (BCH) wealth inequality increased from 0.73 to 0.75, while Litecoin (LTC) remained unchanged at 0.83. Ethereum (ETH), however, had the largest increase in inequality, going from 0.69 to 0.78 in 2019.
The group research analyzed wallets and transactions in November. According to Clovr, wallets known or suspected to be attached to exchanges were excluded.
Why does it matter?
The whales (hodlers with huge amounts of cryptocurrencies) take advantage of their position to conspire to manipulate the prices. Therefore, as the wealth inequality drops, the more difficult it is for them to do it.
In other words, according to the research, at least for now, Bitcoin is the most balanced cryptocurrency in the market, in terms of distribution.
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