ARK Invest and Glassnode Investigate: Striking Differences Emerge Between Bitcoin, Ethereum, and Solana!

After a sharp rise in Bitcoin and altcoins, the trend has recently turned downwards, but a new study published by ARK Invest and Glassnode reveals noteworthy data regarding the decentralization of cryptocurrency networks.

A joint study by Ark Invest and Glassnode has revealed a remarkable picture of the decentralization of the Bitcoin, Ethereum, and Solana networks.

According to this study, in the Bitcoin and Ethereum networks, it is sufficient for three independent actors to act in coordination to reach the level considered a critical threshold. In contrast, Solana requires 19 organizations.

Three Bitcoin Mining Pools Exceed the 51% Threshold!

One of the most striking findings of the study concerned the Bitcoin network. The study revealed that Bitcoin requires three organizations each to accumulate enough processing power or stakes to influence block production.

At this point, the critical control threshold for Bitcoin is considered to be 51% of the network’s total mining power.

Research data for 2026 shows Foundry USA with 27.27%, AntPool with 17.06%, and F2Pool with 16.96% of hash power. The combined hash power of these three mining pools is sufficient to surpass the critical 51% threshold.

However, researchers also point out that this data does not mean that Bitcoin is controlled by three companies.

In Ethereum, the Critical Threshold is Three Actors!

In the case of Ethereum, the research uses a different threshold due to the structure of the Proof-of-Stake mechanism. For Ethereum, the critical threshold is considered to be 33% of the total stake amount.

According to the study, the critical threshold on the Ethereum network can only be surpassed by the total stake controlled by the three largest staking organizations. However, this does not mean that Ethereum is directly controlled by these three companies. These staking organizations perform verification on the network by pooling ETH belonging to numerous different users.

The Situation is Different in Solana!

The study concluded that, unlike Bitcoin and Ethereum, Solana requires the coordination of 19 independent assets to reach the same critical threshold. At this point, Solana sacrifices decentralization in exchange for higher performance and faster coordination.

The study concluded that even if a particular mining pool or validator constitutes a large share of the network, this does not automatically mean that the operator directly owns all of the underlying hash power or staked assets.

*This is not investment advice.