Bitcoin Token Holders

About the Metric

The number of tokenholders is calculated as the number of addresses holding a value of bitcoin > 0. Sometimes, this metric is also calculated as number of addresses having a balance > $1 to avoid considering addresses that hold tokens in dust amounts.

Significance

Increasing Tokenholders is a great metric to judge the adoption of a crypto. Additionally, monitoring the number of addresses that hold over $1 million or $10 million is known as monitoring whale activity. Whales are power holders having significant interest in the network's and token price's success. When whales accumulate more and more bitcoin, a price increase is usually followed.

An additional extension of this metric is the Tokenholder distribution. If the concentration of tokens among whales is too high vs the concentration of tokens among the general masses, it could be susceptible to manipulation.