Streaming APIs Help Gather Top Holders on Ethereum
In 2022, Ethereum finally underwent a long-awaited upgrade to a proof-of-stake (PoS) consensus mechanism. In Ethereum’s proof-of-stake mechanism, validators are chosen to create new blocks based on the amount of ETH they have staked on the network. Validators are responsible for checking the validity of new blocks propagated over the network and occasionally creating and propagating new blocks themselves. Validators who behave honestly and efficiently are rewarded with transaction fees and newly minted ETH.
With the Ethereum Shanghai Upgrade scheduled to take place on April 12, it is expected that the upgrade will allow for the withdrawal of over $33 billion staked Ether over time. This is likely to have a significant impact on the market as investors may choose to sell their Ether holdings after withdrawing their staked tokens. It remains to be seen how this will affect the price of Ether and the wider cryptocurrency market, but it is certainly a development worth keeping an eye on.
At the time of writing this blog, its market cap was 221B and will continue to grow as more people invest in it. This makes us curious as to who the top holders of ETH are, and what is the percentage of total ETH supply held by the top holders among other questions. These metrics can provide insights into the distribution and concentration of ETH ownership and potential market trends.
In this article, we’ll use Bitquery’s APIs to browse the Ethereum blockchain and get some interesting insights on top token holders.
Tokens and Cryptocurrency Exchanges:
OKX, the crypto exchange behind the OKB token, has been actively adding services and programs to its platform that has the potential to boost trading activity. As OKX’s utility token, OKB stands to benefit from these programs, as increased trading activity on the platform would likely lead to higher demand for the token. According to data from the token holder API, the top wallets holding the most OKB tokens as of April 10th, 2023 own 7472487 OKBs, and OKB was trading at approximately 0.025 ETH.
Otherside is a world-building platform that offers an environment for players to engage in various activities, such as creating, competing, exploring, and connecting with others. As an Otherdeed NFT holder, you have the opportunity to participate in Voyager’s Journey, a unique narrative gameplay experience that takes you on an unforgettable journey through the Otherverse.
With the help of Bitquery’s NFT API, you can access real-time data on the latest trades and transactions of Otherdeed NFTs.
If you’re interested in building your own apps or tools to enhance your Otherside experience, you can subscribe to Bitquery’s real-time data stream and start building in the language of your choice, including Python. This opens up a world of possibilities for developers who want to create custom tools or analytics dashboards to track their progress in the game.
Whales and Others
As the cryptocurrency market becomes more mainstream, traders are always on the lookout for signals that can help them make informed investment decisions. One such source of information is the activity of “whales” – large investors who are capable of moving significant amounts of cryptocurrency in a single transaction. Tracking the movements of these whales can provide valuable insights into the direction of the market and the sentiment of other investors.
For example, take the whale address 0x66e092fd00c4e4eb5bd20f5392c1902d738ae7bc. This address has been known to move funds in the millions of dollars, attracting attention from both small and large whales alike. By tracking the movements of this whale, traders can gain a better understanding of the overall market sentiment and make more informed investment decisions.
One way to track the movements of whales like this in real time is by using subscriptions and webhooks. By subscribing to a real-time data stream provided by Bitquery’s NFT API, traders can receive instant updates whenever a whale makes a significant transaction. This allows them to react quickly to market changes and stay ahead of the competition.
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