Those who would like to follow the crypto whales and benefit from it should use special apps. The tracking tools will inform you immediately after a big transaction. Thus, you can plan your activity on the market properly and on time.
5 Crypto Whale Tracker Tools to Buy the Dip in 2023
23 Feb, 2023
No matter how long you are in the cryptocurrency market, you constantly need to watch it closely and pay attention to the changes and trends. Your constant vigilance is an important part of routine analysis. Thus, if you would like to know when to buy the dip and when to wait, you cannot do without it. At the same time, numerous factors influence the market and one of them is the so-called whales. Who are they and why do we need to follow their activity? How to track crypto whales? Here you will find the necessary answers.
Basics of the term
If a person, a group of people, or some organization possess so much crypto that can influence the situation at the market, then they are called crypto whales. Just imagine a real whale who is moving in the ocean. His movement means a lot in the underwater world and changes the life of smaller inhabitants. The same logic is applied to the crypto whales who own 10% or more of the total amount of one or several coins. Whenever they make transactions, all the market participants feel the result.
Why and how to track whales crypto?
The activity of the big players always changes the value of coins. Therefore, when you track it, it becomes a part of your analysis and the reason to react correspondingly. You will not make blind decisions. Instead, you will get the data and gradually learn how to interpret them and use them to profit. If a crypto whale held a big amount of some coin, its trading becomes limited. The liquidity decreases, and it becomes more difficult to swap it or convert on Exolix. When whales start to act, there are two main consequences: • A great exchange inflow seems to be a dumping of a coin. Thus, the price usually decreases afterward. • If they remove a big amount of coins from circulation, prices begin to grow. In addition, other players react to these movements in their way of supporting or standing against the trend. Of course, they try to understand the internal logic of the transactions. It is quite complicated but the results are combined and we observe them immediately. Providing the importance of whales, special tools were created to follow them and their transactions. There is a variety of such trackers and we advise you to learn the basics of the most popular options and then select the one for your needs.
5 topmost crypto whale tracker tools
A variety of special apps was designed for tracking and analyzing the activity of crypto whales. Using them, you will get quick reports on any big or unusual action. This information serves as a key for your own subsequent activity and will contribute to your success. For those who want to benefit, here is a list of five such tools from which everyone can select the best crypto whale tracker for himself.
If you search for a reliable bitcoin whale tracker, this service is a good decision. It also tracks other blockchains, for instance, Ethereum and HIVE. There is a free version for those who would like to give it a try but with the following limits: • without alerts; • transactions are limited by $500K; • only one-hour history of transactions is available. For $9.95 per month, you will get alerts for the chosen coins with transitions over $100K. Bigger transactions together with a full day's history are available for $29.95 per month.
Beginners are fond of this free tool that can be used as an Ethereum whale tracker and tracker for 23 blockchains more. You can utilize it as an app, web version, or via Telegram or Twitter subscription. Alerts come as push notifications or emails. There is one disadvantage here, namely – the service does not provide charts and graphs on the activity over time. However, you can use it absolutely free to evaluate the current situation. Voluntary donations are welcome but they do not influence the service.
Here you can create an account for free but take your time to learn the basics. The website provides all the required data and tutorials. Therefore, it is recommended to read them and get basic knowledge. There are even free courses in blockchain and trading. Thus, if you want to become an expert, here is the perfect chance to do it.
If you are interested in NFT, this tool is for you. You can benefit from the free version or join the paid advanced Captain's Club. The latter has fast alerts, push notifications, and private servers for communicating with other users. The fee is in Ether and fluctuates between $90 and $115. The free tool is also informative, so you can start from it and then discover whether or not you need deeper insights.
This one is a free Telegram community where one can subscribe and get alerts when important transactions occur. The bot reveals big individual actions and creates top lists of recent transfers. Charts are rare here, so you will not get history or detail – just a brief overview. Altogether, the presented service may be quite useful if you understand how to benefit from it. Among modern tools, you can easily find crypto whale tracker dogecoin and other coins as well. As there are many free versions, do not hesitate to try different apps and choose a tracking tool that suits you best.