Half of all EOS tokens held by top ten richest accounts

According to the research of snapshots, just under half of all the EOS tokens are in the hands of top ten richest accounts
04 June 2018   323

Market manipulation by whales is a fear lots of cryptocurrency holders have to live with. Bitcoin has already shown that even the largest market in the crypto world can be manipulated that way, Mt Gox selloff being the prime example. And, according to the independent study of six different snapshots of EOS ownership, EOS market can be in danger of the same manipulation.

The unease stems from the fact that just under the half of all the EOS tokens are distributed between the top ten accounts in the rich list. Top 10 richest accounts hold 49.67% of all the EOS supply. Of course, there is no information about exchanges' accounts, and it is quite possible that the exchanges are really in the top ten with their accounts holding the token for all the clients, but as some users pointed out, no one knows, if the exchange holds small sums for a large number of users, or there are just several whales with a significant chunk of the token each.

And it grows from there. The top 100 can be credited with over 74% of the total supply, and the top 1000 hold nearly 86%. And, from this perspective, market manipulation is not the only worry for the holders of EOS token. Because even if all the users from 1001 and down vote about the direction of the project, they wouldn't scrape together even 14% of the total votes, and would need someone from the top tiers to support them in their decision.

And doesn't it seem strange, that all the 162,000 and change users would have to conform to the decisions made by the top 100, or even top 10 accounts, which practically hold the majority of the votes and can sway the direction of the project, if they agree on something just between them?

Poloniex to List EOS

Trading pairs EOS / BTC, EOS / USDT and EOS / ETH will be added on August 1
01 August 2018   148

The Poloniex exchange listed EOS cryptocurreny.

Since acquiring Poloniex five months ago, we’ve primarily focused on improving the core product experience and stabilizing the performance of the exchange. We improved deposit and withdrawal reliability, updated our customer onboarding process and cleared over 175,000 legacy support tickets. We are now also investing in new ways to grow Poloniex into a premiere destination for crypto asset trading — the addition of EOS is just the first step. [...] At this time, we are only planning to support EOS mainnet tokens and will not be accepting deposits of the ERC-20 variant or providing conversion to mainnet tokens. In addition, we will not be supporting EOS airdrops for the time being.

Poloniex Team

Users already can input / output coins. Trading pairs EOS / BTC, EOS / USDT and EOS / ETH will be added on August 1.

Earlier, EOS took the first line in the third rating of the Crypto-Currency of the Center for the Development of the Information Technology Industry of China (CCID).