Addresses with Balance > $100K

Counts addresses holding more than 100,000 BTC — the very top of the on-chain distribution. Historically only a handful of addresses have ever reached this size, chiefly the consolidated wallets of major exchanges and the largest ETF custody wallets.

This count typically fluctuates within single digits, and any change traces to a specific entity's operations rather than market behaviour. Its most meaningful use is not the count but the share of supply these addresses collectively control: since spot ETFs launched, custodian concentration (largely Coinbase Custody) has risen markedly, creating a structural risk that did not previously exist — supply concentrated in a few regulated custodians reduces loss risk while introducing single points of failure and scope for regulatory intervention.

Address metrics track how on-chain balances are distributed. Remember an address is not a person: exchange hot/cold wallets, custodians and change addresses all distort the count, so the direction of the trend matters far more than the absolute number.

The live chart for this metric is still being wired up. Other address-cohort tiers already carry real data — see the links below.