What's with a huge whale wallet that holds over 6% of Algorand total supply? It is not identified as an Algo team wallet and senders and token balance changes indicate it's very unlikely to be a DEX/exchange.

Scrolling through the top accounts on Algorand there’s something that stands out as strange. There is an account that seems to hold 6% of supply.

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https://preview.redd.it/zjctng1orkcb1.png?1133&format=png&auto=webp&s=49a6031d50f6dcd511bf2a17abc1957fb638cf78

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We know that Algo’s max supply is 10 Billion such that the 620 Million that this wallet holds is 6.2% of supply. I’m not trying to FUD anything, but I also double checked on the Algorand website. This wallet address does not match any of the identified team wallets.

6% could be worse but it isn’t fun to know. I even tried following a bunch of threads across the internet but no dice. Quite a decent amount of people seemed to have noticed it as well but no one has seemed to unravel the mysterious wallet. It does appear to be an individual's wallet as opposed to a exchange’s/DEX’s as Twitter threads say that the wallet has interacted with a variety of exchanges from Binance to OKex to Kucoin. It also suddenly went from a balance of 0 ALGO to 244 million(2.4% of supply) and has generally only been buying more and more as the days went by. That'd be pretty atypical for any exchange.

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https://preview.redd.it/c8j47x6yrkcb1.png?975&format=png&auto=webp&s=c440dd0d8deab2dd86c2940b9d318cdc9d22c313

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https://algorand.com/resources/blog/algorand\_wallets/