Method
What our numbers mean, and what they do not.
Every piece we publish names its source, the exact window it measured, and the query or API call that produced the figure. This page is the part that does not change between pieces: the rules we hold ourselves to, and the limits we print rather than hide.
How do you decide a number is true?
A claim becomes a fact only when we open a primary source ourselves and record the URL and the date we looked. Output from a language model, a web search or an aggregator is a lead, never a fact. Every published figure is recomputed from the saved result file on the day it is published, not from notes.
What does wallet-to-wallet mean, and why does it matter?
An address is a contract if it appears in the chain's contract-creation records. Everything else we call a wallet. A transfer total mixes people with routers, arbitrage bots and exchange plumbing, so we always split the two and print both. On BNB Chain in the seven days to 9 September 2026, 48.6% of USDT transfers never touched a wallet at all.
Is a wallet the same as a person?
No, and we never claim it is. An address with no code can be a human, a script, or an exchange hot wallet. Frequency and fan-out distributions separate behaviour, not identity. Accounts delegated under EIP-7702 have no creation record and count as wallets here.
How do you handle dust and spam?
We count it first, then exclude it in a second view that says so. Silent cleaning hides the size of the problem. In that same week, 62% of wallet-to-wallet USDT transfers on BNB Chain were worth under a cent and added up to $1,511 in total.
Why do you name the contract address instead of the ticker?
Because tickers are not unique. Filtering stablecoin transfers by symbol instead of contract address on BNB Chain catches tens of thousands of impostor contracts calling themselves USDT or USDC. Every figure we publish names the contract.
What are the limits of a label supplied by a data provider?
When we report a figure that depends on someone else's classification, such as an address tagged as a bot or a whale or a sector label on a funding round, we cite the provider and the date and we do not audit the classification. We say which part of the number is theirs.
Reuse
Quote any figure with a link and the date it was measured. The raw result files are in the public repository, so a reader can recompute what we published rather than take our word for it.
Disclosure
We are independent. One of us works at CoinMarketCap; the research here is not connected to that role, is not written on behalf of CoinMarketCap or Binance, and is not financial advice. We hold no position in anything we write about.