Quicktake
- The Top Holders chart distinguishes address types.
- Multiple usages: Token Burning Monitor + Top Trader’s Position Tracker + Smart Money’s Position Tracker
Understanding Top Holders Chart
This chart has two primary uses:
- Token Burning Monitor
- Trader’s Position Tracker
Monitor Token Burning
Burning crypto means removing tokens from the circulating supply permanently. Sending assets to a Null Address is the most common burning method.
For example, on Nov 14, Crypto.com suffered distrust, and its original token, $CRO, dropped over 15% in 24 hours.
We observed that Crypto.com transferred 200,000,000.00 ($11,775,771.11) $CRO to the Null Address.
Although it can’t be confirmed as 100% burning – they might migrate CRO (ERC20) on the Ethereum network to CRO on Crypto.org Chain Mainnet. However, the news boosted market confidence and brought a short-term price rebound.
👉The Same Method - Check SHIB Tokens Burnt in 7d
👉Track Top Whales' Position Changes
