Top 900 crypto: ranks 801 to 900, live

Take a token where three wallets hold 70% of the supply. One belongs to the team and one to an exchange, and nobody knows who owns the third. That's not unusual for a coin ranked around 850, and it changes how much the price on this page can be trusted. Each bubble here is one of the coins ranked 801 to 900, sized and colored by how it's trading right now.

Coins ranked 801 to 900

Most are worth a few million dollars or less, with daily trading that can be smaller than a single large order elsewhere in the market. That's a step down even from the top 800 crypto range one page up, where at least some coins still trade on several exchanges. Here, a lot of them trade in one or two places.

At that size, who holds the supply matters as much as how the project is doing. A coin can have a working product and a healthy community and still crash in an afternoon because one wallet decided to sell.

Holder concentration, and how to check it

Any block explorer shows a token's largest holders, usually on a tab next to its transfers. The useful question is how much of the supply sits in the top ten wallets, and who those wallets belong to. Some are harmless, such as exchange wallets and vesting contracts, which often show up near the top. Others are individuals or the team itself, and those are the ones that can move the price.

Bubblemaps is good for this. It draws a token's holders as connected bubbles, which makes it easy to spot clusters of wallets that were funded from the same source and are probably controlled by the same person. That's how a lot of supposedly spread-out holdings turn out to be one holder in disguise. Concentrated supply is also what makes a crypto pump and dump possible in the first place; it's hard to dump a coin you don't hold much of.

Earlier I said the unknown third wallet was the worry. Sometimes it's the team's. A team holding a large, unlocked share can sell whenever it likes, and at this rank there may be no one big enough to buy.

Casinos called their biggest gamblers whales long before crypto borrowed the word. A whale at a Las Vegas table could make or break a casino's month, which is roughly what a large holder does to a token at rank 850.

A rule of thumb

If the top ten wallets that aren't exchanges or contracts hold more than half the supply, assume the price is whatever those holders decide it is. The cryptocurrencies ranked 901 to 1000 on the next page follow the same rule, with even less trading behind them.