XRP Price Poised To Surge Above $1 in March
01 Mar 2024
Who doesn’t know Warren Buffet or Peter Lynch?
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.
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.
Features of a good Whale wallet tracker –
Candlestick is a new entrant in the field of whale wallet watcher, and the reason I added it at #1 is because it is easy to use, and easy on pocket too. Since it’s a new tool, they are adding a new feature every day, which is not possible with an established tool.
Using Candlestick, you will be able to do following –
Here is how to get started with Candlestick.
Once you have added your whale wallet addresses, Candlestick will start showing you recent activities. You can also set alerts based on your requirement, which will help you to take action faster.
Take advantage of filters to lower down the noise, and see high value transactions.
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 :
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.
DeBank is another popular tool for watching crypto whales. Using Debank, you can do stuff such as –
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.
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.
DexCheck is an actionable analytics solution for DeFi and NFTs. It offers a feature called “Crypto whales tracker” which you will find very interesting to discover profitable whale wallets. At the time of writing, they support about 10 blockchains (including layer 2 solutions), and you can find the whale wallets based on wallet size in $.
DexCheck tool shows the number of buys and sales, and you can sort the data based on 1D, 7D and 30D.
You can also copy the wallet address in your favourite whale wallet watcher app, for further investigation and tracking. This feature is currently free, and there are many features of DexCheck that will assist you in your path of profitable trading and investing.
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 Community, I often share similar tools to help us get an edge over others.
Here is a list of more similar Crypto whale wallet watcher tools that you should check out:
Having a crypto whale wallet tracker does give you an advantage over others with real-time information, but like any other great financial tool, you need to create your own method and hacking techniques to make the most out of it.
Like you, I’m building my methodology; here are a few that I’m currently developing or using.
Find Early winners –
When I discover my next 10x crypto projects, I find the early winners on these projects. I carefully profile these wallets, which aped on those 10x projects early, and bought them with real money. I track them regularly to see their activities and discover the next 10x project.
Avoid airdrops or TGE –
It is not uncommon for a whale wallet to receive airdrops. This is one of the ways scam projects increase their visibility. As a trader or investor, you must be mindful about ignoring such airdrops when watching whale wallets. This way, you would save a ton of time. Similarly, many whales/influencers get early access to projects, and I don’t often find this to be the accurate measure of “Smart money.” I usually avoid wallets or projects awarded to “Whale wallets” because of token generation events (TGE).
Make a list of Crypto Whales (Keep it private)
Nobody liked to be tracked, and often these crypto whales keep changing their wallet addresses not to be tracked by a large number of users. However, if you are smart, you can always follow a wallet movement and find all of its future wallets (to some extent).
You should make a list of top crypto whales wallet and keep updating it. Keep the list relevant to your investing and trading style. At most, you can share the list with your trading or investing buddy to assist you in tracing it together, but don’t share it with the world.
If you are a mindful investor and trader like me, you should join the CoinSutra discord community. You can find the link on CoinSutra Homepage.News appeared first on: Coinsutra.com