diff --git a/apps/block_scout_web/lib/block_scout_web/controllers/address_controller.ex b/apps/block_scout_web/lib/block_scout_web/controllers/address_controller.ex
index 3c29ffa4f3..22825ae63a 100644
--- a/apps/block_scout_web/lib/block_scout_web/controllers/address_controller.ex
+++ b/apps/block_scout_web/lib/block_scout_web/controllers/address_controller.ex
@@ -7,9 +7,10 @@ defmodule BlockScoutWeb.AddressController do
 
   def index(conn, _params) do
     render(conn, "index.html",
-      addresses: Chain.list_top_addresses(),
+      address_tx_count_pairs: Chain.list_top_addresses(),
       address_estimated_count: Chain.address_estimated_count(),
-      exchange_rate: Market.get_exchange_rate(Explorer.coin()) || Token.null()
+      exchange_rate: Market.get_exchange_rate(Explorer.coin()) || Token.null(),
+      total_supply: Chain.total_supply()
     )
   end
 
diff --git a/apps/block_scout_web/lib/block_scout_web/templates/address/_tile.html.eex b/apps/block_scout_web/lib/block_scout_web/templates/address/_tile.html.eex
index 8963b44a54..eddf794799 100644
--- a/apps/block_scout_web/lib/block_scout_web/templates/address/_tile.html.eex
+++ b/apps/block_scout_web/lib/block_scout_web/templates/address/_tile.html.eex
@@ -15,7 +15,7 @@
           <!-- number of txns for this address -->
           <span class="mr-4 mb-2">
             <span data-test="transaction_count">
-              <%= transaction_count(@address) %>
+              <%= @tx_count %>
             </span> <%= gettext "Transactions sent" %>
             <% if validator?(@address) do %>
               <span data-test="validation_count">
@@ -36,7 +36,7 @@
               data-usd-exchange-rate="<%= @exchange_rate.usd_value %>">
             </span>
             <!-- percentage of coins from total supply -->
-            <span class="ml-0 ml-md-2">(<%= balance_percentage(@address) %>)</span>
+            <span class="ml-0 ml-md-2">(<%= balance_percentage(@address, @total_supply) %>)</span>
           </div>
         </div>
       </div>
diff --git a/apps/block_scout_web/lib/block_scout_web/templates/address/index.html.eex b/apps/block_scout_web/lib/block_scout_web/templates/address/index.html.eex
index 13db6de433..851aa9a0d7 100644
--- a/apps/block_scout_web/lib/block_scout_web/templates/address/index.html.eex
+++ b/apps/block_scout_web/lib/block_scout_web/templates/address/index.html.eex
@@ -9,9 +9,10 @@
       </p>
 
       <span data-selector="top-addresses-list">
-        <%= for {address, index} <- Enum.with_index(@addresses, 1) do %>
+        <%= for {{address, tx_count}, index} <- Enum.with_index(@address_tx_count_pairs, 1) do %>
           <%= render "_tile.html", 
             address: address, index: index, exchange_rate: @exchange_rate,
+            total_supply: @total_supply, tx_count: tx_count,
             validation_count: validation_count(address) %> 
         <% end %>
       </span>
diff --git a/apps/block_scout_web/lib/block_scout_web/views/address_view.ex b/apps/block_scout_web/lib/block_scout_web/views/address_view.ex
index 041d1e9aa7..a9fdfbc746 100644
--- a/apps/block_scout_web/lib/block_scout_web/views/address_view.ex
+++ b/apps/block_scout_web/lib/block_scout_web/views/address_view.ex
@@ -1,7 +1,7 @@
 defmodule BlockScoutWeb.AddressView do
   use BlockScoutWeb, :view
 
-  import BlockScoutWeb.AddressController, only: [transaction_count: 1, validation_count: 1]
+  import BlockScoutWeb.AddressController, only: [validation_count: 1]
 
   alias BlockScoutWeb.LayoutView
   alias Explorer.Chain
@@ -94,16 +94,20 @@ defmodule BlockScoutWeb.AddressView do
     format_wei_value(balance, :ether)
   end
 
-  def balance_percentage(%Address{fetched_coin_balance: balance}) do
+  def balance_percentage(%Address{fetched_coin_balance: balance}, total_supply) do
     balance
     |> Wei.to(:ether)
-    |> Decimal.div(Decimal.new(Chain.total_supply()))
+    |> Decimal.div(Decimal.new(total_supply))
     |> Decimal.mult(100)
     |> Decimal.round(4)
     |> Decimal.to_string(:normal)
     |> Kernel.<>("% #{gettext("Market Cap")}")
   end
 
+  def balance_percentage(%Address{fetched_coin_balance: _} = address) do
+    balance_percentage(address, Chain.total_supply())
+  end
+
   def balance_block_number(%Address{fetched_coin_balance_block_number: nil}), do: ""
 
   def balance_block_number(%Address{fetched_coin_balance_block_number: fetched_coin_balance_block_number}) do
diff --git a/apps/block_scout_web/priv/gettext/default.pot b/apps/block_scout_web/priv/gettext/default.pot
index 9ae0e22d88..761c33ba42 100644
--- a/apps/block_scout_web/priv/gettext/default.pot
+++ b/apps/block_scout_web/priv/gettext/default.pot
@@ -227,7 +227,7 @@ msgstr ""
 #: lib/block_scout_web/templates/address_validation/index.html.eex:90
 #: lib/block_scout_web/templates/api_docs/_action_tile.html.eex:122
 #: lib/block_scout_web/templates/api_docs/_action_tile.html.eex:141
-#: lib/block_scout_web/views/address_view.ex:210
+#: lib/block_scout_web/views/address_view.ex:214
 msgid "Code"
 msgstr ""
 
@@ -508,7 +508,7 @@ msgstr ""
 #: lib/block_scout_web/templates/transaction/_tabs.html.eex:14
 #: lib/block_scout_web/templates/transaction/_tabs.html.eex:43
 #: lib/block_scout_web/templates/transaction_internal_transaction/index.html.eex:10
-#: lib/block_scout_web/views/address_view.ex:209
+#: lib/block_scout_web/views/address_view.ex:213
 #: lib/block_scout_web/views/transaction_view.ex:176
 msgid "Internal Transactions"
 msgstr ""
@@ -725,7 +725,7 @@ msgstr ""
 #: lib/block_scout_web/templates/address_validation/index.html.eex:53
 #: lib/block_scout_web/templates/tokens/overview/_tabs.html.eex:33
 #: lib/block_scout_web/templates/tokens/overview/_tabs.html.eex:75
-#: lib/block_scout_web/views/address_view.ex:211
+#: lib/block_scout_web/views/address_view.ex:215
 #: lib/block_scout_web/views/tokens/overview_view.ex:37
 msgid "Read Contract"
 msgstr ""
@@ -930,7 +930,7 @@ msgstr ""
 #: lib/block_scout_web/templates/address_validation/index.html.eex:18
 #: lib/block_scout_web/templates/address_validation/index.html.eex:62
 #: lib/block_scout_web/templates/address_validation/index.html.eex:70
-#: lib/block_scout_web/views/address_view.ex:207
+#: lib/block_scout_web/views/address_view.ex:211
 msgid "Tokens"
 msgstr ""
 
@@ -991,7 +991,7 @@ msgstr ""
 #: lib/block_scout_web/templates/block_transaction/index.html.eex:35
 #: lib/block_scout_web/templates/chain/show.html.eex:71
 #: lib/block_scout_web/templates/layout/_topnav.html.eex:35
-#: lib/block_scout_web/views/address_view.ex:208
+#: lib/block_scout_web/views/address_view.ex:212
 msgid "Transactions"
 msgstr ""
 
diff --git a/apps/block_scout_web/priv/gettext/en/LC_MESSAGES/default.po b/apps/block_scout_web/priv/gettext/en/LC_MESSAGES/default.po
index d55c8e73de..14a11d48f5 100644
--- a/apps/block_scout_web/priv/gettext/en/LC_MESSAGES/default.po
+++ b/apps/block_scout_web/priv/gettext/en/LC_MESSAGES/default.po
@@ -227,7 +227,7 @@ msgstr ""
 #: lib/block_scout_web/templates/address_validation/index.html.eex:90
 #: lib/block_scout_web/templates/api_docs/_action_tile.html.eex:122
 #: lib/block_scout_web/templates/api_docs/_action_tile.html.eex:141
-#: lib/block_scout_web/views/address_view.ex:210
+#: lib/block_scout_web/views/address_view.ex:214
 msgid "Code"
 msgstr ""
 
@@ -508,7 +508,7 @@ msgstr ""
 #: lib/block_scout_web/templates/transaction/_tabs.html.eex:14
 #: lib/block_scout_web/templates/transaction/_tabs.html.eex:43
 #: lib/block_scout_web/templates/transaction_internal_transaction/index.html.eex:10
-#: lib/block_scout_web/views/address_view.ex:209
+#: lib/block_scout_web/views/address_view.ex:213
 #: lib/block_scout_web/views/transaction_view.ex:176
 msgid "Internal Transactions"
 msgstr ""
@@ -725,7 +725,7 @@ msgstr ""
 #: lib/block_scout_web/templates/address_validation/index.html.eex:53
 #: lib/block_scout_web/templates/tokens/overview/_tabs.html.eex:33
 #: lib/block_scout_web/templates/tokens/overview/_tabs.html.eex:75
-#: lib/block_scout_web/views/address_view.ex:211
+#: lib/block_scout_web/views/address_view.ex:215
 #: lib/block_scout_web/views/tokens/overview_view.ex:37
 msgid "Read Contract"
 msgstr ""
@@ -930,7 +930,7 @@ msgstr ""
 #: lib/block_scout_web/templates/address_validation/index.html.eex:18
 #: lib/block_scout_web/templates/address_validation/index.html.eex:62
 #: lib/block_scout_web/templates/address_validation/index.html.eex:70
-#: lib/block_scout_web/views/address_view.ex:207
+#: lib/block_scout_web/views/address_view.ex:211
 msgid "Tokens"
 msgstr ""
 
@@ -991,7 +991,7 @@ msgstr ""
 #: lib/block_scout_web/templates/block_transaction/index.html.eex:35
 #: lib/block_scout_web/templates/chain/show.html.eex:71
 #: lib/block_scout_web/templates/layout/_topnav.html.eex:35
-#: lib/block_scout_web/views/address_view.ex:208
+#: lib/block_scout_web/views/address_view.ex:212
 msgid "Transactions"
 msgstr ""
 
diff --git a/apps/block_scout_web/test/block_scout_web/controllers/address_controller_test.exs b/apps/block_scout_web/test/block_scout_web/controllers/address_controller_test.exs
index 1ad14d2952..071667cf77 100644
--- a/apps/block_scout_web/test/block_scout_web/controllers/address_controller_test.exs
+++ b/apps/block_scout_web/test/block_scout_web/controllers/address_controller_test.exs
@@ -10,7 +10,9 @@ defmodule BlockScoutWeb.AddressControllerTest do
 
       conn = get(conn, address_path(conn, :index))
 
-      assert conn.assigns.addresses |> Enum.map(& &1.hash) == address_hashes
+      assert conn.assigns.address_tx_count_pairs
+             |> Enum.map(fn {address, _transaction_count} -> address end)
+             |> Enum.map(& &1.hash) == address_hashes
     end
   end
 
diff --git a/apps/explorer/lib/explorer/chain.ex b/apps/explorer/lib/explorer/chain.ex
index 51eac0ed1a..8cfb97bfcf 100644
--- a/apps/explorer/lib/explorer/chain.ex
+++ b/apps/explorer/lib/explorer/chain.ex
@@ -920,13 +920,20 @@ defmodule Explorer.Chain do
   Lists the top 250 `t:Explorer.Chain.Address.t/0`'s' in descending order based on coin balance.
 
   """
-  @spec list_top_addresses :: [Address.t()]
+  @spec list_top_addresses :: [{Address.t(), non_neg_integer()}]
   def list_top_addresses do
-    Address
-    |> limit(250)
-    |> order_by(desc: :fetched_coin_balance, asc: :hash)
-    |> where([address], address.fetched_coin_balance > ^0)
-    |> Repo.all()
+    query =
+      from(a in Address,
+        left_join: t in Transaction,
+        on: a.hash == t.from_address_hash,
+        where: a.fetched_coin_balance > ^0,
+        group_by: [a.hash, a.fetched_coin_balance],
+        order_by: [desc: a.fetched_coin_balance, asc: a.hash],
+        select: {a, fragment("coalesce(1 + max(?), 0)", t.nonce)},
+        limit: 250
+      )
+
+    Repo.all(query)
   end
 
   @doc """
diff --git a/apps/explorer/test/explorer/chain_test.exs b/apps/explorer/test/explorer/chain_test.exs
index 0634f02bf0..0ed17acb4e 100644
--- a/apps/explorer/test/explorer/chain_test.exs
+++ b/apps/explorer/test/explorer/chain_test.exs
@@ -1182,7 +1182,10 @@ defmodule Explorer.ChainTest do
         |> Enum.map(&insert(:address, fetched_coin_balance: &1))
         |> Enum.map(& &1.hash)
 
-      assert address_hashes == Enum.map(Chain.list_top_addresses(), & &1.hash)
+      assert address_hashes ==
+               Chain.list_top_addresses()
+               |> Enum.map(fn {address, _transaction_count} -> address end)
+               |> Enum.map(& &1.hash)
     end
 
     test "with top addresses in order with matching value" do
@@ -1201,7 +1204,10 @@ defmodule Explorer.ChainTest do
         |> insert(fetched_coin_balance: 4, hash: Enum.fetch!(test_hashes, 4))
         |> Map.fetch!(:hash)
 
-      assert [first_result_hash | tail] == Enum.map(Chain.list_top_addresses(), & &1.hash)
+      assert [first_result_hash | tail] ==
+               Chain.list_top_addresses()
+               |> Enum.map(fn {address, _transaction_count} -> address end)
+               |> Enum.map(& &1.hash)
     end
   end