Address clustering

Address clustering is the technique of grouping multiple blockchain addresses that are likely controlled by the same real-world entity, so analysis can be done per entity rather than per address.

Because users control many addresses, address-level data is noisy. Clustering uses heuristics (such as common-input ownership) and behavioural signals to merge addresses into entities, which can then be labelled (exchange, mixer, merchant). Clustering underpins intelligence and AML: entity attribution, counterparty graphs and risk-scoring all build on it.