Number of Shark (5k-10k ICP)
The Number of Shark (5,000–10,000 ICP) metric counts the total number of ICP addresses holding between 5,000 and 10,000 ICP. Addresses in this tier typically represent medium to large retail participants or small professional holders, reflecting economically significant stakes capable of impactful transactions and accumulation on the network.
How it’s calculated
All addresses are analyzed based on their current ICP balance. Addresses holding at least 5,000 ICP but less than 10,000 ICP are included in this category. Each address is counted once per period.
Interpretation of trends
The Number of Shark provides insight into more substantial retail and semi-professional accumulation:
- Increasing Shark count: Suggests growth in medium-to-large retail participation, as well as new accumulation by small professional holders. This may indicate confidence in the network, strategic accumulation, or operational usage at a higher balance level.
- Stable Shark count: Reflects a consistent number of economically significant addresses, suggesting stability in this tier without major consolidation or expansion.
- Declining Shark count: Could indicate aggregation of balances into larger wallets, or reduced retention among medium-to-large holders.
Limitations
Although the Number of Shark provides valuable insights into medium-to-large retail and small professional holdings, it has several limitations:
- Partial economic representation: Balances are significant for retail and small professional holders but still smaller than whale addresses.
- Activity not guaranteed: Shark addresses may be dormant, operational, or used intermittently for staking, transfers, or testing.
- Automated or operational addresses: Some addresses may belong to canisters, scripts, or protocol-level operations rather than individual retail or professional users.
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