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Originally used as a measure of competition, we adapt the Herfindahl Index as a metric for decentralization. It measures the addresses' shares of the current supply, and is defined as the sum of weighted address balances in the network. A large score indicates high concentration of supply, whereas a small score is an indicator for more evenly distributed funds across addresses. Exchange addresses, smart contract addresses and other special asset-specific addresses (e.g. team fund addresses) are excluded.
Latest value: 0.00244235 (as of 12 Feb 2026)