CRYPTO WHALES AND HOW THEY INFLUENCE THE MARKET
Crypto whales is just a simple term used to refer to users that have very high balances and get involved in good projects before they go up. These whales can greatly influence the prices of crypto currencies. When whales pull out money /sell a crypto assert in a block chain we see a significant drop in the price of that crypto currency and when whales invest/buy a crypto assert ,it is likely we see a spike in the price of that crypto currency. What whales do is that they sell at the peak of the euphoria/bullish market and buy when prices are really low in the bearish market. Crypto whales can be worth paying attention to when making plans for crypto investments .
We can track whale activity in crypto because of the transparency in block chain technology we can see every transaction that is linked to a wallet on that block chain.
So how do we pay attention to whales?
We do this by paying attention to what asserts they are holding, the date and time they bought or sold these asserts, what moves they are making next, to do this we can discover and analyze whale wallets transactions an sites like bitinfocharts, etherscan, zapperfi, blocksight.com As we said earlier, you want to pay attention to what coins the whales are buying as well as the time those asserts were bought.
This is to ensure that you are not too late or too early to buy or sell a coin before the whales do. For example when a whale buys a coin ,it will take only a short period of time for that coin to experience a spike so you want to check the date of buying so as not to buy after the spike in price, but before the spike just like the whales do.
