How exactly can one identify these whales? This investigation delves into the technique, providing a step-by-step guide for uncovering these formidable entities within the crypto world.
Our quest begins at the heart of decentralized financial metrics: online market data websites such as Dex Screener. These platforms provide a comprehensive view of the cryptocurrency landscape, delivering insights into the activities of various tokens. For our purpose, the first step involves perusing the list of top 100 tokens based on high trading volume. This parameter serves as a good indicator of active speculation in the market.
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Show more +However, merely identifying these tokens is insufficient. The real whale-chasing process begins when we pick a token from this list and delve deeper into its ownership details. The aim is to find the large holders of that token, the individuals or organizations that hold a significant amount of the token supply. This information isn’t buried in some secret vault; it’s actually quite readily available, thanks to blockchain’s inherent transparency.
Platforms like Etherscan or Zerion serve as the next waypoint in this journey. They provide a detailed view of each token’s holdings, revealing the wallets holding large amounts of the selected token. This transparency is a unique feature of blockchain technology, which records every transaction on a public ledger for anyone to see.
Once these large holders are identified, the next step involves delving into their wallets. Blockchain also allows the public to explore these wallets and their transaction history. The idea is not to infringe upon their privacy, but to understand the trends, transactions, and perhaps even the strategy employed by these whales.
Remember, the goal isn’t just to identify these whales but to also understand their behavior. By following these steps, we can gain deeper insights into how the big players in the crypto world operate, how they might influence market trends, and, perhaps, what their actions could suggest about future market movements. This method doesn’t guarantee investment success, but it certainly provides valuable insight into the workings of the crypto market.
