How to Track Whale Wallets?
Crypto whales are people or organizations that own a large number of a particular #cryptocurrency. In this article, we will write about how to track whale wallets.
Thanks to the transparent structure of blockchain technology, we can track crypto whales. There are multiple ways to track whale activities. We can classify these as; monitoring known whale addresses, order books, sudden changes in market value, and transactions on crypto exchanges.
However, there are free services available to track crypto whales that inform traders about successful whale trading, often including information about the wallets and amount of the sender and recipient.
The most popular of these services is @whale_alert on Twitter (X). Whale Alert is a bot that tracks large whale transactions on major blockchains and also provides alerts and monitoring services by tagging known wallet addresses.
You can use blockchain scanners to track whales that have not moved for long periods of time but have a lot of assets. If you use #Etherscan, a blockchain scanner for #Ethereum, you can use the watch lists on the site to get alerts to track transactions to and from a specific address.
In addition to following crypto whales, there is also a site where you can see the wallets of exchanges and the amount of trading in these wallets. On this site, which serves under the name #Coincarp, you can select any exchange and cryptocurrency and observe the transactions made on that exchange.
If whales start selling a large portion of their holdings in a particular asset, investor confidence can be shaken. This can put more downward pressure on the assetâs price. Conversely, whales can push an assetâs price higher and shift investor sentiment toward a higher price. This is why tracking crypto whales can help you stay on top of trading activity and take action accordingly.
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