Large Transactions Count and Volume

What it is

Two daily measures of activity by large market participants. Large transactions count shows how many transfers worth more than $100,000 were made on the network. Large transactions volume shows their total value in US dollars. A transfer is a movement of coins from one address to another recorded on the blockchain; an address is a public identifier that can hold coins, similar to an account number.

How it is calculated

Each transfer of the network's own coin made during the day is valued in US dollars at the asset price. Only transfers worth more than $100,000 are kept:

Large Transactions Count — the number of unique transfers worth more than $100,000.

Large Transactions Volume — the total US dollar value of these transfers:

Large Transactions Volume (USD) = Value_1 + Value_2 + ... + Value_n

Value_i — the US dollar value of large transfer i; n is the number of large transfers in the day.

How to read it

Rising count and volume — large players such as funds, institutions, exchanges and wealthy holders (often called whales) are more active. Such surges often accompany important market moments, such as sharp price moves or trend changes.

Falling count and volume — large players are less active, and activity is driven mainly by smaller participants.

Volume rising faster than the count — the average size of large transfers is growing, a sign of very large movements by individual players.

The metrics show that large coins are moving, but not in which direction: a spike can reflect both buying and selling. They are best read together with price and other indicators.

What it is used for

Tracking activity of large market participants, spotting periods of heightened interest from institutions and whales, and assessing what share of network activity comes from large transfers.

Limitations

The $100,000 threshold is fixed in dollars, so when the asset price rises, more transfers cross it even if the number of coins moved stays the same. Exchanges and custodians moving funds between their own wallets create large transfers that do not reflect real trading activity. One large holder can split a transfer into several smaller ones or combine many into one, which affects the count. Activity that happens off the blockchain, such as trading on exchanges, is not included.