UTXO Value Bands segments the entire unspent supply into cohorts based on the USD value of individual outputs, displaying the total value of UTXOs falling within each specified size range - from small retail-scale outputs to large whale-scale holdings. Each band represents the aggregate value of unspent outputs whose individual value falls within a defined threshold, providing a structural view of how supply is distributed across different participant tiers at any given time.
When high-value bands represent a growing share of total UTXO value, supply is becoming increasingly concentrated among large holders - reflecting whale accumulation or consolidation behavior that reduces the number of discrete outputs while increasing their individual size. When lower-value bands expand, supply is being distributed more broadly across smaller outputs, reflecting retail participation growth or deliberate coin splitting across multiple addresses.
Tracking shifts in value band composition alongside price action reveals how the balance of supply between whale and retail cohorts evolves across market cycle phases - identifying periods of institutional accumulation where large-value UTXOs are quietly growing, distribution phases where high-value outputs are broken into smaller ones and rotated to new holders, and the structural transitions between them that have historically preceded major directional price moves.
