How we measure
Every number on a collection page is here, with what it counts, what it deliberately does not, and where it comes from. The middle line is the one worth reading: a measurement is only useful once you know what it is blind to.
The numbers at the top
- Floor price
What it countsThe lowest price anyone is currently asking for a piece.
What it doesn'tOne marketplace, not the market. A cheaper piece listed elsewhere is invisible here, and an asking price is not a sale - nobody has agreed to it yet.
SourceOpenSea on Ethereum, Magic Eden on Solana.
- 24h volume
What it countsThe prices of every sale recorded here in the last 24 hours, added together.
What it doesn'tIt counts the sales we saw, and only those priced in the chain's own token - a sale paid in a stablecoin is left out rather than added to an ETH total, and one settled somewhere our sources do not reach is absent entirely. A single large piece can carry a day on its own.
SourceOur own record of sales, built up across every run rather than read live in one call - a provider returning an empty page once would otherwise report a real day as zero.
- Supply
What it countsHow many pieces the contract reports, and separately how many are still held once burned pieces are set aside.
What it doesn'tThe two differ for very few collections, and where they do the burn was usually deliberate. A contract never decrements its own supply when a piece is destroyed, which is why both numbers are shown rather than one.
SourceRead from the contract through Alchemy on Ethereum, from the collection's metadata on Solana.
- Holders
What it countsHow many wallets hold at least one piece, and how that number has moved since we started watching.
What it doesn'tWallets, never people. One collector spread across forty wallets reads as forty holders, and nothing on-chain can tell the difference.
SourceWallet balances read through Alchemy. Ethereum only - no free source for Solana holders exists yet.
Signals
- Activity
What it countsHow many distinct wallets bought, and how many sold, in the last 24 hours.
In the Art IndexHow many distinct wallets bought or sold over the last seven days, counting a wallet that did both once.
What it doesn'tOne wallet buying ten pieces counts once. A collection can be busy with very few participants, or quiet with a great many.
SourceThe same record of sales behind 24h volume.
- Recent Buyers
What it countsHow many recent sales went to a wallet already among the largest holders of a collection tracked here.
What it doesn'tIt says who bought, not what it means. A collector adding one more piece and a wallet moving pieces between its own addresses look the same from outside.
SourceThe record of sales, matched against the top-holder list of every collection tracked here.
- Changing hands
What it countsHow often the same piece sells again. A hundred sales can be a hundred different pieces, or fifty pieces sold twice. This tells the two apart.
What it doesn'tIt only sees the window shown, so a piece bought two years ago and sold today does not count as coming back and the true figure is never lower than this one. A low share on a collection that rarely trades means the sample is thin, not that owners are holding - too few sales against too many pieces lands near zero whatever people do. Left out entirely below 25 sales.
SourceThe same record of sales behind Activity and 24h volume.
- Piece to piece
What it countsWhether one piece is worth much more than another. In some collections everything sells for about the same, so buying one is buying any of them; in others, which piece you get is the whole point. It reads the middle half of sales, so one exceptional price cannot move it.
What it doesn'tWhy they differ - a rare trait, the work itself, or one collector paying up. It needs about forty sales before it says anything, and it is left out below that.
SourceOur own record of sales. Line them up cheapest to dearest and this is the gap between the one a quarter along and the one three quarters along, so the extremes at either end are outside it. Each day is measured on its own, because a collection whose price moves during the week would otherwise read as variety.
- Top end
What it countsHow much more the dearest sales fetch than the ordinary ones. In most collections the top few sell within reach of everything else; in some they go far beyond it.
What it doesn'tHow much more, never why. A rare trait, a known provenance and two wallets passing a piece between themselves look identical from outside. It also reads only what has sold since we started watching, so the dearest sale here is not the collection's record.
SourceThe record of sales, read against the floor as it stood on the day of each one.
- Ownership Concentration
What it countsThe share of the collection held by the largest 10% of wallets.
What it doesn'tIt describes ownership, not health. A collection can concentrate because one collector went deep on it, which is a different story from a few wallets holding the exit. It also counts contracts as holders, so pieces sitting in a marketplace escrow or a vault read here as concentration - the Top holders table below names them.
SourceAlchemy balances. Absent for a project that shares its contract with other work, where reading the contract's balances would mix in pieces that are not this collection's.
Labels in the tables
- Contract
What it meansThis address is a program. Pieces usually sit in one because they were put there for something - wrapped, staked, lent against - rather than collected, and what sits in one can belong to many people at once.
What it doesn't sayWhether it is custody or somebody's wallet. Smart accounts are contracts too, and two of these turned out to be exactly that, so a row labelled with the bare word keeps its list of holdings rather than hiding it - the evidence sits beside the caveat instead of behind it.
How we knowThe code at the address, read on-chain, and then two questions: what it calls itself, and whether it answers as a smart account. Wallets that carry code - multisigs, delegated wallets, smart accounts - are read as the wallets they are.
- Collection wallet
What it meansThe wallet the collection itself is registered to, holding pieces of its own collection.
What it doesn't sayThat the artist holds anything. The marketplace calls this the collection's owner, which in practice is the team or its multisig, and nothing here verifies who that is.
How we knowThe owner address the marketplace reports for the collection, compared against the holder list.