Understanding how assets are distributed within the project is key to assessing both its financial health and its level of decentralization. On this occasion, we analyze the chart of the main holders —that is, the wallets with the largest number of tokens— and their share of the total in circulation.
At first glance, it may seem that there is a high concentration, as the 'Top 10' holders account for 70.47% of the supply. However, upon closer inspection, we discover a much more nuanced reality.
Particularly noteworthy is the wallet in position #1, which concentrates 61.90% of the total. This figure, which might seem concerning, requires context: this address does not belong to an individual investor but corresponds to a multi-signature wallet (multi-sig) or a custody entity. These types of wallets typically pool funds from various users and are common in exchanges, institutional funds, or liquidity pools. In other words, this percentage represents consolidated capital from many participants, not power concentrated in a single hand.
If we discount this institutional wallet, the participation of the other wallets —from position #2 to #10— is much more balanced, showing greater diversification.
The remaining 29.53% of the supply is distributed among thousands of smaller holders, totaling a value of 124.21 billion (BRL 47.76 million). This broad and diverse base is a healthy sign that speaks of real decentralization and an active, engaged community.
What does this mean for you, as an investor?
There is no single 'whale' with total control. The largest wallet represents a collective grouping of users, not a threat of individual manipulation.
The project has a solid and diverse base. Decentralization is reflected in the wide distribution of tokens among different investor profiles, which reduces risk and strengthens the stability of the ecosystem.
In summary, the analysis demonstrates a healthy balance between institutions, large holders, and the general community, strengthening confidence in the sustainable growth of the project.
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