Definition. This chart tracks the number of addresses in the Shark Cohort [Balance 100–1k ETH], defined by ETH coin balance, alongside its 30-day change and price. It can be used to observe and monitor macro trends of cohort growth or decline throughout market cycles. The traces are:

• 🟧 Address Count in Cohort (line)
• 🔵 30-day Change of Address Count in Cohort (columns)

Technical. The cohort count is derived from balance-threshold address metrics:

• Shark Address Count = Addresses(>= 100 ETH) - Addresses(>= 1k ETH)
• 30-day Change = diff(Shark Address Count, 30)

This metric includes Externally Owned Addresses (EOAs) only; smart contracts are excluded. Note that these are address counts and do not reflect the volume of supply held.

Interpretation. Sharks sit between retail-scale holders and whales — typically wealthier individuals and smaller funds. Sustained growth in the cohort's address count signals wealth consolidating into mid-size holdings, behavior that has historically accompanied accumulation phases, while a shrinking count can reflect distribution, balance reshuffling, or cohort migration (an address crossing 1k ETH leaves this band upward). Because one entity can control many addresses, short-term swings are best confirmed against supply-based measures before being read as genuine cohort behavior.

Notes. Built from Addresses with Balance ≥ 100 and Addresses with Balance ≥ 1k. The supply held by this cohort is charted in Shark Net Position Change; neighboring cohorts are Fish and Whale.