#sats on-chain address analysis (January 21st):

1. Binance exchange holdings, 29.88%; other CEX holdings accounted for 10.62%; exchange holdings totaled 40.5%, an increase of 0.37%

2. Among the top 100 early mint addresses, 72 addresses have not moved, accounting for 25.3% of the positions, which is basically unchanged.

3. Among the top 200 early mint addresses, 122 addresses have not moved, accounting for 30.1% of the positions, which is basically unchanged.

4. The current holdings of the top 200 on the chain account for 74.1%, and the current holdings of the top 300 account for 77.5%;

Summary: Among the top 200#satsaddresses, the early mint addresses can be regarded as the main bargaining chip and should be focused on tracking. There have been large fluctuations recently, but the chips on the chain have not changed much. The average holding amount of the first 72 untouched addresses is US$3.96 million, which requires focusing on profit-making chip dynamics; the total chips in the exchange are 10.4% more than the main chip holdings on the chain. The changing trend is shown in the attached figure: