There Are 2 Addresses Controlling More Than 45% Of Ethereum Transactions After The Merge

The two addresses have processed more than 45% of Ethereum (ETH) transactions since the blockchain network completed its transition to a proof-of-stake (PoS) consensus, according to Santiment data.

According to the data, the first address validated 188 blocks accounting for 28.97%, while the second address validated 105 accounting for 16.18%. The third address validated 54 blocks accounting for 8.32%. Santiment considers the dominance of two addresses responsible for more than 45% of validated blocks to be a notable event.

Members of the crypto community have begun to raise concerns about the decentralization of Ethereum based on Santiment data.

Prior to Merge, several industry stakeholders had repeatedly addressed centralization concerns in the space. Five entities that control more than 64% of Ethereum are staking, and three of them are centralized exchanges. The decentralized staking platform alone, Lido (LDO) DAO, controls 31%.

In a separate tweet, Gnosis co-founder Martin Köppelmann revealed that the two wallets belong to Lido and Coinbase.

He further tweeted that the top 7 entities control 2/3 of the ETH staking.

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