Tech

The extreme concentration of BUSD: 99% of supply owned by just 1% of addresses

03/28/2023
Bitcoin Ethereum News

Quick Take

  • The top 1% of addresses hold roughly 99% of the total supply of BUSD.
  • A similar pattern occurred with the FTT token that was issued by FTX, where the top 1% holds 99% of the supply.
  • Recent scrutiny comes after CFTC filing a lawsuit against Binance.
  • Roughly $14 billion of BUSD has left exchanges since November 2022 — leading to BUSD trading volume dropping to the lowest it has been in eight months.
BUSD Addresses: (Source: Glassnode)
BUSD Addresses: (Source: Glassnode)
FTX Token: (Source: Glassnode)
FTX Token: (Source: Glassnode)

 

BUSD: (Source: Glassnode)
BUSD: (Source: Glassnode)

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Source: https://cryptoslate.com/insights/roughly-99-of-busd-supply-is-held-by-the-top-1-addresses/