Reading the Wallets list

The wallets list ranks the most active large wallets we track. This page explains the ranking basis, the labels, and the bias pill.

How wallets are ranked

Wallets are ordered by recent on-chain activity and size, so the actors moving the most value right now sit at the top. The list is a starting point for finding wallets worth opening, not a portfolio ranking.

Labels and entities

Where we can identify an address it carries a label (an exchange, a known fund, a bridge). An unlabeled address is one we have not attributed; it is not necessarily more or less important.

The bias pill

The bias pill summarises whether a wallet has been net accumulating or net distributing over the window.

  • Accumulating Net pulling coins into the wallet (buying / withdrawing from exchanges).
  • Distributing Net sending coins out (selling / depositing to exchanges).
  • Balanced No clear net direction over the window.

Frequently asked questions

Does a high rank mean a wallet is bullish?

No. Rank reflects activity and size, not direction. Check the bias pill and open the wallet to see whether it is accumulating or distributing.

Why are some wallets unlabeled?

We label addresses we can attribute to a known entity. Many large wallets are private actors we have not identified, so they show as plain addresses.

← All guides