Definition. Treasury Relative Balances (Companies) is the holdings of institutional holders, market makers, and corporate entities with crypto investments, expressed as a proportion of the asset's total supply. The series displays individual company holdings as a share of total supply, supporting tracking of corporate market concentration. The "other" category includes non-whitelisted entities.

Technical. Holdings are not derived by directly tracking wallets, but rather are aggregated from publicly available reports.

Notes. Source data provided by CoinGecko.