Fig. 7: Supply by balance and market regimes. | Humanities and Social Sciences Communications

Fig. 7: Supply by balance and market regimes.

From: Distributional equality in Ethereum? On-chain analysis of Ether supply distribution and supply dynamics

Fig. 7

This figure displays the normalized supply share of various wallet groups holding fewer than 100,000 ETH over time. The x-axis represents the period from 2016 to 2024, whereas the y-axis represents the normalized share of total supply held by these groups relative to all wallets holding less than 100,000 ETH. The gray shaded areas highlight the Ethereum bull markets, characterized by drastic price increases. The figure reveals the dynamics of ETH distribution among wallet groups across different market cycles.

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