Definition. Relative Address Supply Distribution reports the share of circulating supply held by addresses falling within each balance band. Circulating Supply is the related base variant without segmentation.

Technical. For BTC and ETH, every on-chain address is binned by its native-unit balance, and the metric reports the share of total supply controlled by each band. The share is relative to the sum of all bands rather than circulating supply. For tokens, bands are defined in ppm of the summed address balances, and an address only changes band when its own balance changes. For ETH, contract addresses are excluded. For ETH tokens, burn addresses are excluded.