Supply on Top 100 Addresses

What it is

The total number of coins held by the 100 largest addresses on the network. An address is a public identifier on the blockchain that can hold coins, similar to an account number. The value is expressed in coins, not in dollars.

How it is calculated

At the end of each day, all addresses are ranked by balance from largest to smallest, and the balances of the top 100 are summed:

Supply on Top 100 Addresses = Balance_1 + Balance_2 + ... + Balance_100

Balance_i — the number of coins held by the address ranked i.

How to read it

Rising — the 100 largest addresses are accumulating more coins in total. This may reflect buying by large holders or inflows into exchange and custodian wallets.

Falling — the total balance held by the 100 largest addresses is decreasing, which may reflect selling, distribution, or withdrawals from exchange and custodian wallets.

Sudden jumps or drops are often caused by exchanges or custodians reorganizing their wallets rather than changes in underlying ownership.

What it is used for

Tracking supply concentration and monitoring balance trends among the largest addresses on the network.

Limitations

An address is not the same as an owner: one entity can control many addresses, while a single exchange or custodian address can hold funds for thousands of users. The metric reflects address-level concentration rather than exact ownership distribution.