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Crypto

Sodax Ownership Concentrated in Top 100 Wallets

Guavy AI Editorial Team
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ARB
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Sodax (SODA), a cryptocurrency listed on Arbitrum, has a highly concentrated ownership structure. According to the latest data from CryptoRank, the top 100 wallets control 100% of the total 15.46M token supply.

The largest wallet among them holds a significant 9.66M SODA tokens, accounting for approximately 62.5% of the total supply. The second-largest wallet has around 2.11M tokens, while the third-largest is a contract address holding 2.01M SODA.

The distribution chart shows that wallets hold 86.95% of the token supply, with contracts holding the remaining 13.05%. This concentration raises concerns about the potential for market manipulation and volatility in the SODAX price.

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