#Sats On-Chain Address Analysis (January 27):

1. Binance exchange holdings: 28.3%; other CEX holdings: 12.99%; total exchange holdings: 41.29%, an increase of 0.3%.

2. Of the top 100 early whale addresses, 71 have not moved, accounting for 25.2% of the holdings, unchanged.

3. Of the top 200 early whale addresses, 120 have not moved, accounting for 29.9% of the holdings, unchanged.

4. The top 200 current holders account for 74.8% of the holdings, while the top 300 current holders account for 78.1%.

In summary, among the top 200 #Sats addresses, early addresses can be considered as major chips and key tracking targets. There have been large fluctuations recently, but the on-chain chips have remained largely unchanged. The average holding amount of the top 71 unmoved addresses is $3.85 million, and the dynamics of profitable chips need to be closely monitored; the total chips in exchanges exceed the holdings of major on-chain chips by 11.4%. The trend of changes is shown in the attached figure: