Holder distribution explained
Who holds a token matters as much as what the chart shows. This guide explains how to read the holder distribution and the numbers behind it.
Why holder distribution matters
A price chart is the record of trades. It does not show how the supply is spread. Two tokens with identical charts can be very different: in one, thousands of wallets hold small amounts; in the other, ten wallets hold most of it and can sell into the same liquidity.
Top-10 concentration
The top-10 concentration is the combined share of the ten largest wallets. On Solana, QZMO leaves out liquidity pools, locker contracts and similar infrastructure first, because those hold tokens so that trading works, not as a bet on the price. On the EVM chains (Ethereum, BNB Chain, Robinhood Chain) the number includes pools and other contracts among the largest holders; they are labelled in blue in the list and on the map.
- A low number means no small group can move the price alone.
- A high number means a few decisions can change the market. It is a reason to look closer, not a verdict.
- There is no fixed threshold. Compare with tokens of similar age and size.
Reading the holder map
The holder map shows the largest wallets as bubbles. Bigger bubbles hold a bigger share of the supply. Colours separate the kinds of holder:
- Green – an ordinary wallet.
- Amber – a wallet that RugCheck's network analysis links to other wallets (Solana only).
- Blue – a pool or contract that holds supply for trading.
Click a bubble to see the address and open it in the explorer. The list next to the map shows the same wallets with their share of the supply.
Connected wallets
If several large holders are connected, the real concentration is higher than the list suggests, because one party may control all of them. QZMO shows how many connected wallets it found relative to the number of holders. These are indications taken from on-chain data, not proof of common control. On Ethereum, BNB Chain and Robinhood Chain there is no connected-wallet analysis.
Limits to keep in mind
- Holders can split supply across many wallets to look less concentrated.
- Exchanges and custody services hold tokens for many people, so a large wallet is not always a single investor.
- The map shows the top 20 wallets, not everyone. QZMO states how many holders there are in total.
Run these checks on any address
Paste a Solana or Robinhood Chain token address. QZMO reads the public on-chain data and shows the result in seconds.
Free · no wallet connect · no sign-up. The result is information, not a recommendation.Questions
What is a good top-10 concentration?
There is no universal number. Lower means the supply is more spread out. Compare a token with others of a similar age and size instead of using one threshold.
Why are liquidity pools excluded from the concentration?
On Solana, pools hold tokens so that trades can happen, and counting them would make almost every token look concentrated. On the EVM chains they are included in the number but labelled in blue.
What do the bubble colours mean?
Green is an ordinary wallet, amber is a wallet that appears connected to others, and blue is a pool or contract holding supply for trading.