Peeling is used to break value into pieces small enough to pass unnoticed into services, while the remainder continues down a dominant path.
Peel chains are laborious to follow by hand but very recognisable in aggregate, because the amounts and timings repeat in a way that human activity does not.
Related terms
Clustering
Grouping addresses likely under common control, using patterns such as shared spending or funding.
Onchain tracing
Following value across addresses using published ledger data, and classifying where the trail ends.
Mixer
A service or protocol that pools funds from many users to break the link between source and destination.
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Guides that use this term
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