EthenaCCAW46YQbcU6DiZBnWMSRSbLvEQjt18E7KR5sa3meYKL
Case file · ante-mortem observation
RECOVERING.
Acute centralization with a liquidity chaser
Grade Score
68/100
Grade B · RECOVERING
Mkt Cap
$1.21M
-0.3% · 24h
Liquidity
$1.10M
Volume 24h
$133.2K
Holders
6
Few HoldersHeavy Concentration
Field Report
Six Whales, One Graveyard, Zero Escape
Here we observe a most peculiar specimen: Ethena, a token that has mastered the art of decentralization by concentrating 100% of its wealth among precisely six individuals—a feat of mathematical elegance rarely seen in nature. Despite its revoked authorities and respectable liquidity, it remains a cautionary tale of how even the most 'secure' tokenomics cannot overcome the fundamental predator-prey dynamic when all the prey have become apex predators.
Diagnosis
Liquidity
Adequate
$1.10M pool depth.
Activity
Active
$133.2K volume / 24h.
Holders
Extreme cluster
Top 5 hold 100.0% of supply.
Cause
Likely Cause
Acute centralization with a liquidity chaser
Patient Note
They said it was decentralized. The six holders wept with laughter.
Holders
Top 1
90.8%
Top 5
100.0%
Top 10
100.0%
017wuq...roDi90.77%
022cnb...DCt68.04%
034A1s...SaFk0.80%
04GHtJ...HH1T0.38%
05proj...k4160.00%
06Fund...dYs40.00%