I saw that @ Arbitrum will start organizing activities on KAITO @ KaitoAI at the end of May Looking at on chain data, ARB's Herfindahl index is used to measure the share of network addresses in the current supply, i.e. chip concentration. A high index indicates that a small number of large holders are dominating the market, while a low index indicates a more even distribution of chips. When TOKEN was first issued, early holders often concentrated a large amount of supply and had high control over the market, resulting in a higher Herfindahl index. As these early holders sold off, the index began to decline, reflecting a gradual shift in token distribution from concentration to dispersion. Speaking of people, a higher concentration of chips does not necessarily mean a significant pullback, but it is beneficial for pullback and the volatility will be amplified. The dispersion of chip concentration is definitely not conducive to a significant pullback. The essence of cryptocurrency gameplay is to control the market high, generate favorable news, and raise prices, FOMO， Then distribute chips, then fluctuate and fall again, and collect chips The essence has always been to control the chips first. Coincidentally, at the end of May, the concentration of chips also reached a historic high This has to make people daydream. Seeing this, my friends, this is not investment advice After all, as the L2 of the Ethereum chain, it still depends on the ETH market situation, and ETH also depends on the market sentiment of BTC It's still difficult to go against the trend independently. You can continue to follow Ha.