Supply Held by Fish (500-1k ICP)

Supply Held by Fish (500–1,000 ICP) measures the total amount of ICP held by all addresses with balances between 500 and 1,000 ICP. This tier represents the segment where holdings begin to resemble clear retail positioning with economic relevance. Wallets in this category often reflect early committed participants, structured retail allocations, or operational entities managing moderate balances rather than micro or incidental amounts.

How it’s calculated

All addresses with at least 500 ICP and less than 1,000 ICP are aggregated, and the combined balance of those wallets is presented as the metric output. Each address is counted once based on current balance, independent of activity frequency, source of funds, or transactional behavior.

What this metric highlights

This tier reflects the point where smaller participants begin to form noticeably meaningful ownership shares, offering context on the progression of supply dispersion across the retail layer:

• Increasing supply held may suggest that more participants are accumulating into mid-sized retail ranges or transitioning upward from lower tiers.
• Stable supply held implies that this segment is maintaining its position within the distribution structure without major inflows or exits.
• Declining supply held could indicate upward migration to larger tiers, consolidation into fewer addresses, or distribution.

Limitations

For accurate interpretation, it’s important to consider the metric’s scope and boundaries:

• Not indicative of market intent: Holding size alone does not imply accumulation, distribution, or sentiment changes.
• Mixed address profiles: Wallets may belong to individuals, services, custody structures, staking entities, or dApp-related operations — identity remains unknown.
• Movement is non-directional: A transition into or out of this bracket does not automatically reflect bullish or bearish positioning.

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