Supply Held by Whale (10k-100k ICP)

Supply Held by Whale (10,000–100,000 ICP) measures the total amount of ICP held by addresses with balances between 10,000 and 100,000 ICP. This tier usually represents professional holders, high-net-worth participants, and some institutional or exchange wallets. Balances in this range are economically significant, capable of influencing liquidity, network activity, and the concentration of supply across the ecosystem.

How it’s calculated

All addresses holding at least 10,000 ICP but less than 100,000 ICP are aggregated, and their balances summed. Each address is counted once, regardless of its transaction frequency or activity level.

What this metric highlights

This tier reflects the accumulation and distribution of substantial but not top-tier positions, providing insight into the composition of professional and semi-institutional participation:

• Increasing supply held: May indicate new strategic accumulation by professional holders, growth of high-value retail positions, or the onboarding of custodial/exchange wallets.
• Stable supply held: Suggests consistency in medium-to-large-scale holdings, with limited redistribution.
• Declining supply held: Could signal consolidation into larger addresses, reallocation of balances or distribution.

Limitations

While informative, this metric has several boundaries:

• Identity is unknown: Addresses may belong to individuals, institutions, exchanges, DAOs, or automated custody systems.
• Activity is not implied: Wallets may be dormant, operational, or long-term reserves rather than actively participating in transactions.
• Not a direct market signal: An increase or decrease in this tier does not inherently indicate accumulation, selling, or market sentiment.

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