Digital currency whales and their tracking in my wallet

Probably, now that you understand what the term whales refers to in the cryptocurrency world, a general picture has formed in your mind about why these people are being tracked; Now we also try to complete your mental picture of the importance of this work by carefully examining why this is the case. exchange my wallet He has introduced the reasons that made tracking whales a necessity in the digital currency market as follows:

• Identifying and mastering the patterns governing the market: It was said that whales are essentially traders with the ability to trade in huge volumes that can create certain patterns in the cryptocurrency market. By tracking the wallet address of whales, it is possible to get early information about sudden price changes, and a person can determine his trading strategy according to the data received from these addresses.
• Reducing trading risk: If the market has entered a stage where doubt prevails and a FOMO has been created in it, which encourages all traders to buy digital currency in order to avoid possible profits, examining the behavior of big whales can tell you the reality of the market in question. make it clear Taking inspiration from the trading strategy of whales is one of the practical solutions available for a profitable trading experience.

Small traders are like small fish in a big ocean, naturally, fish alone cannot move against the direction of the water; But due to their large body, whales are easily able to change the direction of movement even against the direction of the water! Now what will happen if several whales do this at the same time? Will the market trend be anything but the direction of movement of whales?!

For example, in the last month, the activity of whales has increased in support of Bitcoin; So that even inactive wallets have entered the story! For example, an inactive wallet after 12 years of inactivity has transferred 500 bitcoins worth 35 million dollars to several new addresses in the past few days, and this indicates a strong return of whales to the bitcoin market. It is interesting to know that whales have bought more than 268 thousand bitcoins during the last 1 month.

According to Glassnode chain data, Bitcoin whales during the past 1 month have made the biggest wave of accumulation since 2012 until today, which resulted in the price of Bitcoin rising again from $64,000 to $66,500, and it seems that the whales have prepared themselves for a hundred thousand dollar bitcoin, which coincides with the confirmation of bitcoin ETF funds and the nearness of the halving, which makes reaching this goal more logical and realistic.

It was mentioned above that tracking the trading behavior of whales allows the trader to identify opportunities before it is too late and use them to adjust the trading strategy by mastering market sentiments. Now the question is how to track digital currency whales? Using specialized digital currency whale tracking tools is the correct answer to this question. In the following, we introduce common and reliable tools that you can use to study the trading behavior of whales:

• Whale Alert: This tool is basically a tracking service that is able to monitor 9 blockchain networks including Bitcoin and Ethereum. Will Alert has a free version with good features; But if you plan to use it to receive whale transaction alerts, you must purchase its premium subscription which costs $9.95 per month.
• WhaleBot Alerts: This tool is basically a Telegram bot that sends free alerts related to whale wallet transactions. Although the information of this information channel may be a little bulky and its reviews take time; But for sure, their careful examination can help traders to correctly predict major market movements. However, this tool often issues alerts about individual transactions without background and is useful for experienced traders.
• ClankApp: This tool also publishes whale transactions in real time both on the website and on its Telegram and Twitter accounts. Using the data of this tool is completely free; But its biggest weakness is related to the fact that it lacks graphs and charts that show the image of whale transactions over a period of time. This tool monitors around 24 blockchain networks and is a good option for beginners.