Beware of centralization on Infinite Hash (SN89)
analysis of the largest wallets
👇 🧵
The three largest wallets hold a large portion of the supply: 26.05%.
Usually, the three largest wallets hold a maximum of 18% of the supply. There is therefore significant centralization, which represents a risk in the event of massive sales.
But the behavior of these wallets is actually reassuring.
The first seems to belong to the subnet Owner. There have been no sales or transfers from it.
💪 This suggests the subnet owner has very strong convictions in its subnet.
The second wallet is used for buybacks. No sales to report and continuous purchases 💸
A very interesting mechanism that we will study shortly.
The third largest portfolio has never sold or made any transactions. It remains completely passive.
It will be necessary to closely monitor these wallets, which could have a major impact in the future.
Despite this centralization, a very interesting mechanism has been put in place to transfer the value of the subnet into its token.
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