Crypto whales are people with a significant investment in a single coin or token. Crypto whales have disproportionately large investments compared to retail investors’ holdings.
If a person holds 1000 or above Bitcoin in their wallet, he is considered a Bitcoin whale. The person’s actions, such as buying/selling, can affect the token’s price.
Crypto whales can influence the price of the token with their buying and selling. If a person has enormous investments in more than one token, he can create a slight wave in the cryptocurrency market with his buying and selling actions.
Tracking such crypto whales can make you aware of their actions and make quick decisions about buying and selling. If an Ethereum whale initiates large quantity buy actions, it helps you to enter into the token for catching the next hike.
How can we identify and track crypto whales?
Some websites allow investors to track and get aware of crypto whales. Some of them are listed below.
Whalemap: It is a crypto platform that offers to buy and sell level data of different tokens to analyze the trading volume. It provides all the data about the market actions of crypto whales to assist the community in better trades.
Watcher.Guru: There is a separate tab on the website called whale tracking that allows people to track whale actions along with other analytics of the crypto market.
In addition to the above, there are Twitter handles that post actions of crypto whales to make the followers aware of the activities.
Watch the wallet addresses containing a massive number of tokens of particular crypto tokens.
The wallet-to-exchange and wallet-to-wallet transactions of crypto whales can be considered an indication of the market actions. Tracking crypto whales is a simple way to stay ahead of the cryptocurrency market move.