What is being ranked?
Each owner’s finished track record over the whole period the chain lets us observe: what they sold, against what those coins cost them. An owner is a bundle of addresses the chain’s own evidence links together, not a person and not an account. How owners are grouped has the rules.
There are two separate rankings, money made and rate of return, and they are never blended. Each has a best board and a worst board of ten owners, so four boards in all.
- Owners that have ever sold
- 89,560,002
- every owner with a record to judge, before any rule is applied
- Cleared every rule for money made
- 2,088,239
- the owners the money boards are drawn from
- Cleared every rule for rate of return
- 930,888
- fewer, because this ranking also needs $10,000 of matched sales
Records up to 20 Sep 2026.
What counts as a sale?
Any coins leaving an owner for anyone else: a deposit to an exchange, a payment, or a move to another group of addresses, even one the same person controls. The network fee leaves with the coins and is counted with them.
Coins moving between an owner’s own addresses are not a sale and realise nothing.
How is the cost of a coin worked out?
Each owner keeps one running average cost. Coins that arrive add their value, at that day’s closing price, to the pot. Coins that leave take a matching slice of the cost with them, and the result of a sale is what left, at that day’s closing price, minus that slice. Days follow UTC, and there is no matching of one purchase to one sale.
Newly mined coins cost the closing price on the day they were mined. Coins from before any market price existed, and coins the grouping only learned about late, have no known cost. They sit in a separate pot, count for nothing when they leave, and lower the share that could be matched.
What do the figures on the boards mean?
- Money made or lost: the sum of every sale’s result. A negative figure is money lost.
- Rate of return: the money made divided by what the sold coins cost. It is not measured against everything the owner holds, it is not per year, and it is not adjusted for inflation.
- Days they sold: a count of days with any sale, however many payments each day held. Splitting one sale across five payments does not lengthen a record.
- Share of those days that ended ahead: one verdict per selling day. A day whose selling could not be matched to a cost can never count as a win.
- Share of their sales we could price: the share of the coins sold, by amount, whose cost was known. The price here is what the coins cost, not what they sold for.
- Last seen: whether the owner’s balance was last rising, falling or steady. A rise can be coins received from anyone, so it is not proof of a purchase, and for a quiet owner it can be years ago.
Who qualifies?
Every owner that has ever sold is considered. To be ranked, an owner needs all three of these:
- Sales on at least five separate days.
- At least 180 days, counting both ends, from the first sale to the last day the owner was active.
- At least 80% of what they sold matched to what it cost.
The rate of return ranking also needs at least $10,000 of sales matched to what they cost, so five dollars turning into fifty cannot outrank ten million turning into fifteen.
Who is left out on purpose?
Exchanges and custodians, wherever the evidence identifies one, because their gains belong to their customers. A business that no published record reaches can still rank like any other owner.
Miners are not left out. They rank like any owner, and what they spent on machines and power is not counted.
An owner is counted against every rule it misses, so the lines saying why owners were left out overlap and must not be added together. The honest number left out is the number considered minus the number ranked.
How are the owners named?
They are not. Each owner carries a short code, the word “owner” followed by twelve letters and digits. Nobody reading the page can turn a code back into addresses, and there is no page anywhere to look one up on. Maketo publishes track records, not identities.
An owner keeps its code from one day to the next while its group of addresses holds, so a row can be followed over time. Two things change it. When an owner turns out to be part of another, its whole record carries on under the other’s code. And if the grouping is ever rebuilt from the start, every owner gets a new code.
Two owners with exactly the same result are placed in a fixed order, so the boards do not reshuffle ties from one day to the next.
What can the method not see?
- Coins an owner still holds. A coin that has not been sold has no result yet, so a large gain left untouched never appears on the boards.
- Real trade prices or times of day. Every sale is valued at that day’s closing price.
- What a coin was swapped for, and any trading that happens inside an exchange, a fund or a custodian.
- The true purchase date of coins withdrawn from an exchange. They cost what the price was on the day they arrived.
- Whether two groups belong to one person. A move between them counts as a sale by one and a purchase by the other.
How often does it update?
Once a day, early in the morning UTC. The records reach a day about three days before the update, because a day is only closed once the chain has moved two full days past it. Each update replaces the whole of every board. If an update is missed, the last good boards stay up and their date says how old they are.
Version
Current method: version 1, one running average cost per owner. Meaningful changes to how records are measured will be noted on this page.
In short
This is a record of finished results, not a recommendation. It does not rank anyone’s skill, it does not say who any owner is, and nothing on it is advice to buy or sell.
