Supply Held by Humpback (>100k ICP)

Supply Held by Humpback (>100,000 ICP) measures the total amount of ICP held by addresses with balances exceeding 100,000 ICP. This tier represents the largest holders on the network, typically encompassing institutional participants, exchanges, large custodial wallets, foundations, DAOs, or exceptionally large private holders. Balances at this level are highly significant in terms of supply concentration and can influence network liquidity and distribution dynamics.

How it’s calculated

All addresses with balances above 100,000 ICP are aggregated, and their total holdings are summed. Each address is counted once per observation period, regardless of activity or transaction history.

What this metric highlights

This tier provides insight into the top-end distribution of ICP supply and highlights the positions of the most significant participants:

• Increasing supply held: May indicate accumulation by new or existing large holders, creation of additional custodial addresses, or strategic positioning by institutional players.
• Stable supply held: Suggests a consistent set of top holders maintaining their positions without major redistribution.
• Declining supply held: Could reflect consolidation into fewer wallets, redistribution to smaller tiers or reallocation of large reserves.

Limitations

To maintain neutrality, several points should be considered:

• Ownership identity is unknown: Addresses may belong to exchanges, institutional investors, DAOs, foundations, or automated custody systems.
• Activity is not guaranteed: Large balances may be dormant, held as cold storage, or reserved for operational purposes, rather than actively transacting.
• Not a directional indicator: Movement in or out of this tier does not automatically signal accumulation, distribution, or market sentiment.

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