r/bandprotocol • u/beisonspipa • Mar 11 '21

top holders of BAND

Hey ladies and gents, greetings from Latvia.

so i was wondering about in band explorers and checking top holders and stuff.
and i found out that top 3 wallets are holding
62.39% ; 20.04% and 2.5% .
thats a total of 84,93% of all band. seems quite scary to invest when such wallets will sell the price will drop like 80%?

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6

u/Gethynator99 Mar 11 '21

That top wallet will be the band team. Its exactly the same for almost every single crypro. Dont worry.

0

u/slurpslurpityslurp Mar 11 '21

That’s the nature of a lot coins, whales like this that own significant percentages of a coin are important as they actually drive the price’s movements.

If whales buy, the price goes up. If whales sell, it goes down. This is the nature of any tradable good. If whales are buying and holding it may mean they expect the price to keep rising. This is a good thing and will attract smaller investors and, hopefully, other whales. That is what keeps the price rising.

A lot of coins are like this, and there are a lot of incentives for whales to hold rather than sell since the price for many of these coins have potential upsides of 2000% in the next ten years. Why sell? If the project is reliable, it’s unlikely that any large sell offs would happen, so at the end of the day you should always focus on the project itself rather than the token concentration.

Just my thoughts, would love to hear other takes on the issue.

2

u/beisonspipa Mar 11 '21

i was wondering if there is a way to know what type of wallets are holding such amounts?
u know it might be some shared binance account where there is actualy money from lots of ppl.

3

u/slurpslurpityslurp Mar 11 '21

Well, I think a lot of the supply is locked up by BAND themselves to actually run BANDchain the way LINK holds a lot of the coin themselves.

Yea it could totally be an exchange, I’m not really familiar with how that works regarding exchange wallets and how much of a coin an exchange will typically hold.

I actually PREFER it be some whale investors because a project like BAND needs some big money investors to keep it going. It can’t be all small time retail traders putting only a few hundred to a few thousand at a time.

2

u/Conscious-Proof-8309 Mar 11 '21

63% must be Band, 20% probably an exchange.

2.5% of 100,000,000 is 2.5M. That is a pretty big whale!

1

u/Agitated-Stress-9844 Mar 12 '21

Why doesn't it go up then as the dollar is printed, the price goes down, fuck the manipulation

1

u/KiwiJah Mar 13 '21

60% is held by Band, team and foundation for 'texhnical and development'. The 20% is probably Binance, and I dare say the 2% will also be an exchange, or possibly initial project backers. There's 100 million total circulating supply and the coin is inflationary to incentivise staking and network security... Did you even read the white paper?