Have you ever thought about it? The coin you watch every day actually has 80.5% of its circulating supply not actively trading on the market? This is not some conspiracy theory—it's the reality laid out by on-chain data.

The chip distribution of a major exchange is a vivid example. A large amount of tokens are concentrated in the exchange's internal addresses, forming a huge "chip black hole." What’s the result? Market fluctuations outside are almost like artificially controlled "rain"—with an unnaturally strong sense of rhythm. Are you still nervous about the 15-minute K-line swings? That’s naive. The real game rules have long been quietly rewritten.

**What does chip concentration mean?**

Over 80% of the chips are quietly resting in exchange internal addresses, exposing a harsh truth: the pricing power is highly centralized. The selling pressure from the external market is theoretically nearly exhausted. The entire structure is like a large reservoir, with the sluice gates in the hands of a few. The market script has never been so clear.

Every coin that retail investors panic-sell during a pullback could be absorbed by this "black hole," becoming ammunition for the next price surge. The expectations of "vacuum zones" on the technical side actually stem from this extreme chip distribution.

**But there’s an overlooked issue—**

For ordinary holders, what does this "centralized monopoly structure" mean besides price fluctuation expectations?

The answer is harsh: your assets are passively "sleeping." Tokens lying in exchange wallets, aside from betting on their rise, generate no other value. In today’s complex market environment, betting all chips on a single coin’s explosive rise carries risks that are already outrageous. This is the most worth pondering.