A new report has revealed that Most of the NFT tokens on Ethereum are in the possession of a few addresses on the network.
reportThe paper, published Oct. 21 from analytics firm Moonstream Focus, found that more than 7 million NFT transactions were performed on the Ethereum blockchain between April 1 and September 25, 2021.
And the Moonstream document shows that approximately 16.71% of all addresses transacting NFT on the Ethereum blockchain hold up to 80.98% NFT.
It was also noted that 16.71% represented NFT platforms and exchanges. that handles thousands of digital tokens.
“There is also a huge inequality in the Ethereum NFT market in the sense that NFT owners top from inproportion 16.71% controls 80.98% of the NFT,” the report states.
and with such a high percentage That leaves the other NFT holders at only 19.02%, according to the analysis.
While this article highlights the disparity in NFT distributions, it also notes that the market remains open to all. Both retail and large investors
“This data shows us that the Ethereum NFT market is open to buyers. And there are few barriers for those who wish to participate in this market.”
The NFT market has grown rapidly in the past few months. and millions of interested people Investors, collectors, developers and exchanges quickly jumped in on the popularity.
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