Observing whales can assist you in identifying the next big opportunity
However, no one shares how to find the right wallets to track
Here's how to find smart money that will profit you π§΅
However, no one shares how to find the right wallets to track
Here's how to find smart money that will profit you π§΅
What I'll be covering:
β’ why it's important to track whales
β’ How to Track Crypto Whale Activity
β’ Apps I use to track whales
β’ Closing thoughts
β’ why it's important to track whales
β’ How to Track Crypto Whale Activity
β’ Apps I use to track whales
β’ Closing thoughts
When crypto whales have large holdings of currency, it limits the amount available to trade. It also reduces the currencyβs liquidity, which means it's harder to swap for other tokens or cash.
Moving currency in large amounts affects its value in a couple of ways:
A large exchange inflow, which means crypto whales putting large amounts of the currency into an exchange, can indicate they're dumping it.
This inflow usually causes the price to drop.
A large exchange inflow, which means crypto whales putting large amounts of the currency into an exchange, can indicate they're dumping it.
This inflow usually causes the price to drop.
A big exchange outflow, when whales pull the currency out of exchanges into their wallets, removes the currency from circulation.
This outflow typically makes the price go up.
This is where we need to take advantage.
This outflow typically makes the price go up.
This is where we need to take advantage.
So here are a few effective methods to track whales:
On-Chain Analysis:
This involves looking at transaction values and block sizes. If a transaction value is high, that means a large amount of currency has changed hands. A large block size indicates a large amount of data.
On-Chain Analysis:
This involves looking at transaction values and block sizes. If a transaction value is high, that means a large amount of currency has changed hands. A large block size indicates a large amount of data.
1οΈβ£ You can analyze the address involved in a transaction to see if it holds a large amount of crypto
@defi_mochi has an in-depth thread teaching you how to go from $1k to $100k with this method
@defi_mochi has an in-depth thread teaching you how to go from $1k to $100k with this method
@defi_mochi 2οΈβ£ Another fantastic way I've recently discovered is using @ViktorDefi's guide to track trends and initiatives before they take off.
In this trend, he explains how it all works with a step-by-step guide
In this trend, he explains how it all works with a step-by-step guide
Exchange-to-Wallet Transactions
Pulling crypto from an exchange into a wallet reduces the amount in circulation.
Pulling crypto from an exchange into a wallet reduces the amount in circulation.
Usually, this raises the price through scarcity, but if the currency is one of the more stable coins, it can cause a price drop by making it seem like a poor investment
Tracking activities with accounts like π
β’ Exchange-to-Wallet Transactions
β’ Wallet-to-Wallet Transactions
Tracking activities with accounts like π
β’ Exchange-to-Wallet Transactions
β’ Wallet-to-Wallet Transactions
Bubble maps is another awesome tool to use. This is mainly to check track wallets and also identify red flags.
Their app is free to use as well @crypthoem provides a step by step guide using bubble maps
Their app is free to use as well @crypthoem provides a step by step guide using bubble maps
Next, we want to find tools that will make our lives easier. You want to be informed as soon as whales are making moves.
Using apps like:
@zapper_fi
@zerion
Using apps like:
@zapper_fi
@zerion
Closing thoughts
You can benefit from watching crypto whale activity whether you plan to take action based on a whale's movement or not.
You can benefit from watching crypto whale activity whether you plan to take action based on a whale's movement or not.
Studying what the major players do with a crypto whale tracker can provide new traders with an education about the market.
This analysis can also help experienced traders learn to anticipate ups and downs and take advantage of profitable opportunities when they come.
This analysis can also help experienced traders learn to anticipate ups and downs and take advantage of profitable opportunities when they come.
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