Based

Rally

Solana

Spot

Gains

<img width="1200" height="800" src="https://coingape.com/wp-content/uploads/2023/12/cryptocurrency_Solana_Diamond_Visuals_Alamy-1-3-e1703945339225.jpg" class="attachment-full size-full wp-post-image" alt="SOL" decoding="async" style="float:right; margin:0 0 10px 10px;">
Solana, a Layer-1 blockchain, is known to be an eco-friendly chain that combines proof-of-stake consensus. In November 2021, Solana reached its record high of $260. 
At the time of publication, Solana has averaged out at the $100 mark but remains almost 60% down from its all-time high. At this time, we look at the top holders of Solana in 2023. 
Also Read:&nbsp;<a class="editor-rtfLink" href="https://coingape.com/markets/solana-price-prediction-should-you-enter-sol-at-100-dip/" target="_blank" rel="noopener">Solana Price Prediction: Should You Enter $SOL at $100 Dip?</a> 
<h2 id="sol-s-wealth-concentration">SOL’s wealth concentration</h2> 
Based on <a href="https://www.coincarp.com/currencies/solana/richlist/">data</a> by CoinCarp, the top ten addresses on the Solana rich list collectively hold approximately 49.66 million SOL. This represents a significant 9.69% of SOL’s total circulating supply as of November 2023. 
Meanwhile, the chain’s top 20 holders control 14.87% of the supply. This concentration increases further with the top 50 holders possessing 24.93% of the tokens, and the top 100 holders collectively owning 33.41%, as per CoinCarp data.&nbsp; 
<figure id="attachment_171787" aria-describedby="caption-attachment-171787" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-171787" src="https://coingape.com/wp-content/uploads/2023/12/SOL-1.png" alt="Solana's top holders: Source: CoinCarp" width="972" height="747" srcset="https://coingape.com/wp-content/uploads/2023/12/SOL-1.png 972w, https://coingape.com/wp-content/uploads/2023/12/SOL-1-300x231.png 300w, https://coingape.com/wp-content/uploads/2023/12/SOL-1-768x590.png 768w, https://coingape.com/wp-content/uploads/2023/12/SOL-1-80x60.png 80w, https://coingape.com/wp-content/uploads/2023/12/SOL-1-150x115.png 150w" sizes="(max-width: 972px) 100vw, 972px">
 <figcaption id="caption-attachment-171787" class="wp-caption-text">
 Solana’s 10 top holders: Source: CoinCarp
 </figcaption>
</figure> 
On the top holder list is an address holding over 11.16 million SOL, amounting to 2.18% of the total supply. This address, identified as 9WzDXwBbmkg8ZTbNMqUxvQRAyrZzDsGYdLVL9zYtAWWM, sits at the top of the rich list. Following in the ranks are other addresses, each securing a stake ranging from 0.71% to 1.09% of the total SOL in circulation. 
<h2 id="ftx-major-holder-of-solana">FTX major holder of&nbsp; Solana</h2> 
The on-chain analytics firm Spot On Chain recently&nbsp;<a class="editor-rtfLink" href="https://platform.spotonchain.ai/en/signal-details/a-review-of-ftx-and-alamedas-solana-sol-holding-13997" target="_blank" rel="noopener">revealed</a>&nbsp;that about 27% of FTX’s Solana (SOL) holdings, roughly 15.3 million SOL, are now accessible. The defunct entities have around 2 million SOL, valued at nearly $192 million, ready for potential sale. 
This scenario, where a few players hold a large portion of a cryptocurrency, is becoming common with a few large cryptos. It’s a concern for those advocating for decentralization, as concentrated ownership can lead to significant price swings if these major holders decide to move their assets. 
<figure id="attachment_171788" aria-describedby="caption-attachment-171788" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-171788" src="https://coingape.com/wp-content/uploads/2023/12/solana1234.png" alt="Solana holder concentration: Source: CoinCarp" width="1205" height="518" srcset="https://coingape.com/wp-content/uploads/2023/12/solana1234.png 1205w, https://coingape.com/wp-content/uploads/2023/12/solana1234-300x129.png 300w, https://coingape.com/wp-content/uploads/2023/12/solana1234-768x330.png 768w, https://coingape.com/wp-content/uploads/2023/12/solana1234-150x64.png 150w" sizes="(max-width: 1205px) 100vw, 1205px">
 <figcaption id="caption-attachment-171788" class="wp-caption-text">
 Solana holder concentration: Source: CoinCarp
 </figcaption>
</figure> 
In the DeFi front, with its 121 active protocols, the chain has a Total Value Locked (TVL) of around $1.4 billion. Based on figures by DefiLlama, Solana dominates 2.65% of the overall $50 billion TVL. 
Also Read:&nbsp;<a class="editor-rtfLink" href="https://coingape.com/solana-sol-price-rally-is-unstoppable-expect-100-gains-in-2024/" target="_blank" rel="noopener">Solana (SOL) Price Rally Is Unstoppable, Expect 100% Gains In 2024</a> 
The post <a href="https://coingape.com/solana-rich-list-2023-the-top-holders-of-the-eco-friendly-chain/">Solana Rich List 2023: The Top Holders of the Eco-Friendly Chain</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Solana Rich List 2023: The Top Holders of the Eco-Friendly Chain

Table of Contents

Coingape News Media

Other articles published on Jan 1, 2024

When Will Bitcoin (BTC) Hit $100,000? Exploring the Chances and More Alternatives for Better Profits

Year in Review: BlockchainReporter’s 2023 Crypto Bulletin

NFT market analysis: 2023 highlights and 2024 forecast

Binance Founder’s Travel Request Denied Again by U.S. Judge After Guilty Plea and $175M Bond Release

4 Tokens Below $0.2 to Turn your $1 into $20

New Year, New PEPE?: Can PEPE Coin Price 10x in 2024?

Join our free newsletter for daily crypto updates!