Ethereum vs. Kaspa: What the Numbers Really Say About Decentralization

A recent tweet by Kaspa Daily compared the decentralization metrics between Ethereum and Kaspa, and the numbers do make you think. According to their breakdown, the top 9 entities on Ethereum—including big players like exchanges, bridges, and wrapped token contracts—hold over 19% of all ETH. That number doesn’t even count the massive Beacon Chain deposit