They are some of the top investors of today’s time, and followed by many investors around the globe. In fact, they are trusted so much that when they buy or sale a company stock, million others do the same. They are the real whales of traditional financial world.
And, have you wondered if you could do the same in the world of blockchain and cryptocurrency?
Today, I will be introducing you one smart way to improve your investing and trading game.
Now only I will share the tools that you should be using, I will be sharing my methodology and few hacks before we end this guide.
So, without further delay, lets’s get started.
What are crypto whales?
Crypto whales are “Smart money” wallets, Individuals/Groups/Organizations who have more information than you or are simply better traders/investors than you. These whales hold a large portion of token holding, and the movement from their wallet could significantly increase or decrease the price of a particular token.
Benefits of Crypto Whale trackers and watching activities –
Understand the intention of top token holders – If they wish to hold the token for the long term or they are selling it.
Top Staking wallets – The whale wallet watcher technique can be used to monitor a token’s top stakers and see how they are dealing with the earned staked token. (Holding Vs. selling)
Moving token from wallet to exchange – When a whale moves a token from their wallet to an exchange, the intention is often to sell it, which often translates into a price drop. As an investor or trader, you can make a better trading decision by monitoring the exchange inflow or outflow.
Features of a good Whale wallet tracker –
Supported Blockchains – The more blockchains a wallet watcher supports, the better.
Alerts – Along with a tracker/watcher, you also need a system that alerts you for significant whale wallet movements.
Real-time data or delayed data – To make the most out of this methodology, you need access to real-time data that is too unfiltered.
Supported notifications platform – As mentioned in #2, Alerts are necessary for any crypto whale wallet tracker tool. However, you also need to check if this tool supports your preferred notifications medium (Ex: Telegram)
List of Best Whale Wallet Tracker tools –
1. Nansen –
Nansen is a popular on-chain analytic tool offering features that enable investors and traders to investigate a wallet address or a token. Two of the features that will interest you as a whale wallet watcher are :
Token god mode: Using this feature, you can analyze important on-chain data about a token you are interested in. For example; concentration of tokens in the smart wallet, movement of tokens, top dexes, and top cex’s holding the tokens.
Wallet profiler – This feature let you check the details of any supported blockchain wallet. Nansen uses pre-determined templates to label wallets, which will assist you in your crypto research.
Nansen is a paid tool, but you can try their seven days standard trials for only $9. It would be best if you took advantage of this paid trial offer only when you have time to test and learn how to use the Nansen tool.
Try Nansen for 7 days
2. DeBank –
DeBank is another popular tool for watching crypto whales. Using Debank, you can do stuff such as –
Find top holders of a token
Find top users of a protocol
Check the wallet activity of any wallet
DeBank also offers a ” Whales ” feature where you can find the top Whales’ wallets and see their activities.
Some feature of DeBank is free to use, and for some of the time-sensitive and complete data, you need to upgrade to their pro plan.
Try DeBank
3. Blockchain explorers (Ex: Etherscan)
Every blockchain, like Ethereum, Solana, and Polygon has its explorer, which is popularly known as blockchain explorer .
Some of these blockchain explorer tools offer features that will let you find token holders whale, and in conjunction with the above tools like Nansen or DeBank, you can create your methodology.
To help you save time, here is a simple process using popular Ethereum blockchain explorer called Etherscan.
Head to Etherscan token list page
Select the token you wish to explore.
For example, here I’m checking the token explorer page of LQTY token
Click on Holders and identify independent wallets. (Wallets that are not of exchanges or smart contracts)
Copy the wallet address from the holder’s list and start analyzing the wallet to find a “Smart money” wallet. You can use this Etherscan to analyse, or use something like Nansen or DeBank which will save a significant amount of time for you.
More Crypto Whale wallet trackers –
The concept of a crypto whale wallet is not new, but you may be hearing it for the first time now. This tool in your crypto research arsenal will give you an edge and advantage over others. This is all we need to become that remarkable crypto trader and investor.
Here at CoinSutra Whales
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