The KENDU Monthly · No. 20

October 2025

At the end of October 2025, 42.2% of the KENDU in wallets and treasuries had sat for over a year, and on average it had sat 330 days. 14,586 wallets held KENDU on Ethereum. On Uniswap, 259 wallets bought and 407 sold during the month.

On-chain data to 31 Oct 2025.

What holders built in October

Proof on-chain

Kendu Spice (thespiceguy.eth): no change in Oct, 6M KENDU in its wallet.

Kendu Brilliance (kendubrilliance.eth): 28M more KENDU in its wallet at the end of Oct than at the end of Sep, 34M in all.

The wallets and what each project says it gives back are on the Projects page.

How it’s counted
The Ethereum wallets that projects list on the Projects page, month end against month end, from the same replay of every transfer. A rise means more KENDU arrived than left; the chain doesn’t say from where. Burns of 1M+ from these wallets are listed one by one.

The last three months

The three months to the end of Oct 2025

Better for holders

  • more of the KENDU in wallets and treasuries has sat a year
  • KENDU is being held longer
  • half the KENDU is spread over more wallets
  • more wallets are buying on Uniswap
  • fewer wallets are selling on Uniswap

The other way

  • fewer buyers are on a streak

About the same: wallets holding KENDU.

Held 1+ year at each month end42.2% of the KENDU in wallets and treasuries at the end of Oct 2025
Wallets buying and selling on Uniswapbuying 259selling 407in Oct 2025

How long KENDU is held

Held 1+ year

42.2%better for holders: rising for 8 months, from 1.4%

of the KENDU in wallets and treasuries, unmoved for over a year

41.4% at the end of Sep

the highest at a month end so far

Average time held

330 daysbetter for holders: rising for 11 months, from 138 days

the KENDU in wallets and treasuries, weighted by amount

317 days at the end of Sep · 141 days a year earlier

the longest at a month end so far

42.2% of the KENDU in wallets and treasuries had not moved for over a year at the end of Oct: 370B of 876B.

On average, the KENDU in wallets and treasuries had sat in its wallet 330 days at the end of Oct, weighted by amount.

How it’s counted
Per token: a wallet’s oldest KENDU leaves first, and KENDU arriving in a wallet starts at zero, even from the same owner.

Wallets holding KENDU

Wallets holding KENDU

14,586about the same as in Jul

on Ethereum, wallets with 1 KENDU or more

14,554 at the end of Sep · 13,247 a year earlier

Wallets holding half

144better for holders: up since Jul, from 141

the fewest holder wallets that together hold half of the KENDU in holder wallets

145 at the end of Sep · 63 a year earlier

14,586 wallets held KENDU on Ethereum at the end of Oct, 32 wallets more than at the end of Sep.

Half of the KENDU in holder wallets sat in 144 wallets.

How it’s counted
Holder wallets only: no pools, bridge, exchanges, treasuries or the burn address. One person can own several wallets.

On Uniswap

Wallets buying on Uniswap

259better for holders: up since Jul, from 234

each wallet counted once in the month

203 in Sep · 363 a year earlier

Wallets selling on Uniswap

407better for holders: down since Jul, from 517

each wallet counted once in the month

373 in Sep · 988 a year earlier

KENDU bought on Uniswap

72.82B

all wallets together

69.92B in Sep · 130B a year earlier

KENDU sold on Uniswap

73.22B

all wallets together

74.62B in Sep · 131B a year earlier

259 wallets bought KENDU on Uniswap in Oct and 407 sold, each wallet counted once.

72.82B KENDU was bought and 73.22B sold: 397M more sold than bought.

How it’s counted
KENDU leaving a Uniswap pool to a wallet is a buy, a wallet sending KENDU to a pool a sell; adding liquidity also counts as a sell, removing it as a buy.

How old the sold KENDU was

  • Sat under 30 days82.75B76.9% of it
  • Sat 30 days to 6 months10.37B9.6% of it
  • Sat 6 to 12 months9.00B8.4% of it
  • Sat 1 to 2 years5.53B5.1% of it

108B KENDU was sold straight from wallets in Oct: into a Uniswap pool, to an exchange or through a swap router. That counts more places than On Uniswap above, so the two totals differ.

76.9% of it had sat in its wallet under 30 days.

5.1% of it had sat over a year; in Sep, 5.9% of what was sold had.

How it’s counted
Age is per wallet: KENDU moved to another wallet starts again at zero there, so a holder who moves wallets looks young.

Buyers on a streak

Buyers on a streak

158the other way for holders: down since Jul, from 200

a buy in 3+ months, at most 2 in a row without one

157 at the end of Sep · 821 a year earlier

158 buyers were on a buying streak at the end of Oct.

How it’s counted
A wallet (or wallets that move KENDU between them) with a buy in 3 or more months, never more than 2 months in a row without one; counted at each month end.

New buyers, and who stayed

New buyers

170

wallets whose first KENDU was bought this month, holding 1M+ at its end

184 in Sep

Of the 154 new buyers of Jul, 110 (71.4% of them) still held at least half of their KENDU at the end of Oct.

Of the 116 new buyers of Apr, 62 (53.4% of them) still held at least half of their KENDU at the end of Oct.

Of the 419 new buyers of Oct 2024, 193 (46.1% of them) still held at least half of their KENDU at the end of Oct.

How it’s counted
A new buyer’s first KENDU was bought (on Uniswap, from an exchange or through a swap router) and the wallet held 1M+ at that month end. KENDU moved on to a wallet that looks like the same holder still counts.

Burns

No burns of 1M+ KENDU in Oct.

3.25B burned in all by the end of Oct, 0.33% of all 1 trillion KENDU.

How it’s counted
Burned = KENDU sent to 0x…dEaD, which nobody can move. Only burns of 1M+ KENDU are listed one by one.

Bridge

Locked in the bridge

47.41B

KENDU held by the Wormhole bridge on Ethereum for Solana and Base

39.96B at the end of Sep

the most at a month end so far

17 wallets sent 16.97B KENDU to Solana and Base through the Wormhole bridge in Oct.

9.52B came back to 14 wallets on Ethereum.

How it’s counted
On Ethereum: KENDU sent into the bridge and released from it. Wallets on Solana and Base aren’t counted here.

A year on

Of the 8,683 wallets that held 1M+ KENDU at the end of Oct 2024, 4,043 (46.6% of them) held about the same at the end of Oct, within 5% of their bag.

The rest: 1,081 held more, by over 5% of their bag; 323 held less, by over 5% of it; 3,236 held under 1M.

3,371 wallets that held under 1M then held 1M+ at the end of Oct.

The 250 biggest holder wallets of Oct 2024 held 680B then and 300B at the end of Oct: 83 still held at least 95% of their bag, 116 held under 1M.

How it’s counted
Holder wallets only. A move to another wallet counts as leaving, even between wallets of the same owner, so these counts differ from the Overview’s, which counts a holder’s own wallets once.

Records and lows in Oct 2025

  • Held 1+ year: 42.2% of the KENDU in wallets and treasuries, the highest at a month end so far.
  • Average time held: 330 days, the longest at a month end so far.
  • Locked in the bridge: 47.41B KENDU, the most at a month end so far.
How it’s counted
Against every full month before this one since Mar 2024 (launch week left out). “Since” is the last month at least as high, or as low, when that was 6 or more months back. Green is better for holders, grey neither.

Pass it on

The KENDU Monthly, October 2025: Held 1+ year 42.2% of the KENDU in wallets and treasuries; Wallets holding 14,586 on Ethereum; On Uniswap 259 / 407 wallets buying / selling

The card shows this issue’s numbers. “Make your own card” opens Explore & share with today’s numbers for the last 30 days.

Every number comes from replaying every KENDU transfer on Ethereum since launch (Method). Full calendar months only, in UTC.