Most of MakerDAO's Asset Value Is in Only a Few Addresses

The most popular DeFi protocol right now is MakerDAO's multi-collateral Dai system, where users create "Collateralized debt positions" by putting up ether or other ERC-20 tokens as collateral to generate DAI tokens up to two-thirds of the value of the ether.

As of Jan. 17, about $400 million worth of assets used as collateral were locked up in MakerDAO protocol Stability system, according to Digital Assets Data.Meanwhile, the number of ether tokens locked up on the Dai system has reached an all time high of nearly 2.5 million, about 2.2 percent of the total ether supply.

The amount of DAI locked in DeFI recently rose to $50 million, representing a 65 percent month-on-month growth, according to Arcane Research.

The total value locked in various DeFi protocols rose above $800 million earlier this month - up over 236 percent year-on-year, according to defipulse.com.

77 percent with positive amounts locked held less than 0.05 ETH as of Jan. 15, Brandon Anderson, data science lead at Digital Assets Data, told CoinDesk.

Just one account holds 171,000 PETH - or 27 percent - of total PETH held on Jan 15.A similar distribution is seen under the new system launched in November 2019, which now refers to CDPs as "Vaults" and where the DAI is backed by multiple collaterals.

Again, most accounts are small in size with these addresses holding just 4 percent of the total wrapped ether locked.

A single address holds 15 percent of the value locked as of Jan. 15 and another one holds nearly 8 percent.

Most addresses hold under 10 bitcoin, and while there were only 2,022 addresses holding 1,000 to 1 million BTC, these addresses controlled over 40 percent of bitcoin's total supply.

Further, the top 1,000 addresses controlled 34.8 percent of all available coins, according to Coin Metrics.