Ethereum Is Not Decentralized. 85% of Ethereum’s total supply is held by entities that have 100 ETH or more, and 30% of the supply is in the hands of (wallets of) those with over 100,000 ETH.

Ethereum’s centralization issue is even more apparent with the shift to proof of stake. Being a “staker” does not require the same hardware as proof of work, but a validator needs to have 32 ETH staked to participate, a sum that most cannot afford.