What Are Cryptocurrency Whales and Crypto Whales Tracking?

In the vast and dynamic world of cryptocurrencies, there exists a group of powerful and influential players known as crypto whales.

In this article, we will delve into the concept of crypto whales, exploring their influence, trading actions, and their role within the cryptocurrency market.

What Are Crypto Whales?

Crypto whales are large investors who hold a considerable portion of the total cryptocurrency supply, wielding the power to influence the cryptocurrency market through their trading actions.

While their identities remain anonymous, crypto whales can be tracked by their cryptocurrency wallets. Visualizing the cryptocurrency ecosystem as an ocean, we can liken regular investors (wallet addresses with little or medium crypto worth) to small fishes with modest crypto holdings, while the whales represent the larger investors (wallet addresses with enormous crypto worth) with substantial crypto wealth.

What Are Bitcoin Whales?

Depending on the cryptocurrency, there are several parameters for who qualifies as a "crypto whale". Bitcoin whales are often referred to as investors, institutions, and crypto wallet addresses with more than 1000 Bitcoins.

Bitcoin whales are characterized by their large holdings, often amounting to thousands or even millions of Bitcoins. Their trading activities and investment decisions have the potential to impact Bitcoin prices and market trends. Bitcoin whales are closely monitored by the cryptocurrency community and market observers due to their ability to create liquidity imbalances, trigger price fluctuations, and potentially manipulate the market. 

The 110 Bitcoin addresses, according to BitInfoChart, controlled around 15.26% of the total Bitcoin distribution.

How to Find Crypto Whales?

Transactions are transparent to all parties thanks to blockchain technology. By using a block explorer, such as EtherScan for Ethereum or other explorers for particular blockchains, you can locate significant transfers. When you observe a lot of cryptocurrency asset transact, whales start to arise. 

Twitter in particular is a popular social media site for finding whales. Crypto whales may tweet about their investment tactics or financial knowledge. But be sensible when considering advice from others, because they might manipulate the market to generate price spikes or drops for their own gain.

What Is Crypto Whale Tracking?

Crypto whale tracking is the act of keeping track of transactions done on a public blockchain. Crypto tracking can be done on any cryptocurrency wallet but mainly on whale addresses. Cryptocurrency traders and investors monitor whale trades because whale actions often impact cryptocurrency trading prices. 

When a transaction is made by a wallet address, tracking is done with API tools that scan over a blockchain. The API finds the transaction in real time and tells the user. Users can examine whales' purchasing and selling trends by using crypto tracking to find trades that are larger than a certain threshold.

How to See What Crypto Whales Are Buying?

How to follow whales in crypto? Since most cryptocurrency blockchains are public, balances and transactions are transparent, and the accounts holding the largest cryptocurrency can be publicly viewed and traced.

1. Blockchain Explorers

To observe huge transactions, use a blockchain explorer like Etherscan or BscScan to facilitate locating whale activity.

• Filter transactions by amount to see those over $100k or $1 million, likely from whales.
• Track wallet addresses that are regularly sending or receiving large sums, indicating whale activity.
• Take note of which coins these whale wallets are transacting. This reveals which cryptos whales may be accumulating.
• Check websites like Whale Alert and Nansen that monitor whale wallets and their holdings. They track which cryptos whales own.
• Monitor whale wallets over time. If you notice a whale accumulating a specific coin frequently, that could signal growing demand.

2. Crypto Whale Tracking Tools

APIs also have been developed to track when big holders perform transactions. These APIs are linked to Twitter accounts and other web applications, for Twitter accounts, a bot is created and a tweet is automated when these whales make transactions. 

Watcher.guru is an example of a website that keeps track of the transactions of the top 1000 holders for most cryptocurrencies. Custom cryptocurrency addresses can also be tracked and you get a notification when transactions are made with that address. Automated Twitter bots like @WhaleAlert, @Whale_Alert, and @WatcherGuru tweet transactions made by crypto whales. Here are some other Twitter accounts: @Bitcoin_Whales, @WhaleBinance, @BlockchainWhale, @CryptoWhale, @ largest_btc, @BitcoinWhales.

3. Social Media and Forums

Crypto communities on platforms like Twitter, Reddit, and Telegram often discuss and share information about whale activities. By following crypto influencers, and whale trackers, or participating in relevant forums, you may come across insights or rumors about what whales are buying.

Should You Follow These Crypto Whales?

Cryptocurrency whales are mostly responsible for price fluctuations in the market. Keeping a record of these transactions is a smart idea. Keeping track of cryptocurrency whale transactions gives the sentiment of the whales. This can be used to know their flow of money which is helpful in cryptocurrency trading. 

While tracking crypto whales can provide insight, proceed with caution:

• Whales have more experience and information than retail investors. But they don't always make the right choices.
• Whale activity can indicate market trends, but doesn't guarantee a coin's success. Whales can manipulate the market.
• View whale activity as one potential signal, not your only source of information.
• Do thorough research from multiple sources before investing in any coin. Don't rely solely on what whales buy.