Roughly 11,000 entities represent 55% of Bitcoin’s on-chain volume

[Tnoy30]

The report also found that one-tenth of all Bitcoin miners control 90% of network hash rate. Researchers have found that roughly 11,000 entities are responsible for more than half of Bitcoin’s on-chain volume.

According to a study published by the National Bureau of Economic Research (NBER) on Oct. 21, 11,043 on-chain entities represent 55% of volume on the Bitcoin network. Cryptocurrency exchanges were estimated to account for three-quarters of on-chain volume.
Source: Roughly 11,000 entities represent 55% of Bitcoin’s on-chain volume