All About Crypto Whales and Where to Find Them

Ever heard about Crypto whales? Similar to how whales, the largest animals in the world, rule the oceans, these people or organisations control substantial sums of digital money. 

These whales are either individuals or entities, in control of large amounts of Cryptocurrencies money such as Bitcoin or Ethereum. 

They are often referred to as 'Whale Market', for they can influence the Crypto market ‘big time’. Due to their possession of large holdings, they can easily fluctuate and change the dynamics of the online market. 

In this blog, we will know what qualifies as Crypto whales, Bitcoin whales, some of the known crypto whales, and the common tracking tools to keep a watch on these whales.

So, how can a Crypto Whale impact the market?

Whether a whale buys something or sells something, a significant transaction can result in swift price changes. Rapid price movements caused by their actions could have an impact on other traders and investors.

In some instances, whales may deliberately manipulate the market in an effort to produce fictitious price movements that would benefit their own positions. Such actions could be "pump and dump" strategies.

Understandably, whales often have the ability to provide liquidity to the market. This means they can buy or sell large amounts of cryptocurrency without significantly impacting the market price.

The ability of whales to provide liquidity benefits other traders and investors. Smaller participants in the market can enter or exit positions with less risk of encountering extreme price volatility. This encourages more active trading and investment in the cryptocurrency market.

Other whales are known for holding their cryptocurrency over the long term, which can have a stabilizing effect on the market. They are less inclined to trade in the near term, which increases volatility.

How to Find Crypto Whales?

According to CoinMarketCap, the top 10 Bitcoin owners, the top 50 Bitcoin owners, and the top 100 Bitcoin owners together own around 5.35%, 7.38%, and 10.73% of all Bitcoin in circulation as of July 2023, respectively.

Since transactions are transparent on Blockchain Technology, one can use online tools such as Blockchain explorer to view transactions on crypto platforms. 

Platforms like Etherscan (for Ethereum) or Blockchain.info (for Bitcoin) provide real-time data on wallet balances, transactions, and token movements. 

Then there are market analysis platforms where large transactions and whale activity are frequently covered on cryptocurrency news websites. You can stay informed about key happenings in the crypto sector by frequently checking these sources.

The following personalities are well-known Crypto Whales

Barry Silbert

Founder of Digital Currency Group, a company that has invested in various blockchain and cryptocurrency projects. He is recognized for his active involvement in crypto space.

Tim Draper

A venture capitalist and early Bitcoin investor who reportedly acquired a significant amount of Bitcoin during government auctions of seized assets.

Micree Zhan and Jihan Wu

Co-founders of Bitmain, a major manufacturer of cryptocurrency mining equipment. They are known for their significant holdings of Bitcoin and other assets.

Cameron and Tyler Winklevoss

Early investors in Bitcoin and founders of the Gemini cryptocurrency exchange. They have been vocal proponents of cryptocurrencies and are known to hold substantial amounts of Bitcoin.

How to track and follow whales in crypto?

To keep track of market trends and dynamics, you would like to follow these big whales and what they are buying. You can either use Blockchain explorer such as Etherscan or BscScan, or the following tracking tools: 

Santiment

Santiment offers data analytics and perceptions on market movements for cryptocurrencies, such as whale activity. You can track significant transactions and wallet movements with the use of real-time data, social sentiment analysis, and metrics offered by these services.

Whale Alert

Real-time alerts for significant bitcoin transactions are posted on the Whale Alert website and Twitter account. They track important blockchain networks and give details on movements the size of whales..

Glassnode

In order to assist you keep track of whale activity and other market trends, Glassnode provides on-chain statistics and analytics for a number of cryptocurrencies. They offer information on wallet balances, transaction volumes, and other things.

TokenAnalyst

TokenAnalyst offers resources for studying blockchain data and keeping track of significant transactions. Their tool allows users to track cryptocurrency transfers between addresses and provides information on whale behaviour.

CoinMetrics

For a variety of cryptocurrencies, CoinMetrics delivers thorough statistics and analyses. Their software can assist you in the analysis of on-chain transactions, even those involving substantial bitcoin sums.