What is Whale Watching in Crypto? Here’s everything you need to know
What is Whale Watching?
In the context of cryptography, “Whale Watching” refers to the practice of monitoring the movements and trading of large cryptocurrency carriers called “whales”.” These”whales“are individuals or organizations that own massive amounts of a certain cryptocurrency, and their transactions can have a big influence on the price of the cryptocurrency.
Crypto whales influenced the prices of major cryptocurrencies, including Bitcoin. For example, if a whale is spotted selling a huge amount of a certain cryptocurrency, this can be interpreted as a warning that the price is going to fall, and other investors may choose to sell their own holdings as well.
On the other hand, if a whale is spotted buying a huge amount of a cryptocurrency, this can be interpreted as a sign of confidence in the asset and may lead to price increases.
Therefore, retail investors monitor crypto whales and keep abreast of any major changes in their crypto portfolios in order to update their investment strategy accordingly.
In short, investors and traders watch whales in order to gain insight into market movements and perhaps profit from their trades.
However, it is crucial to understand that whale watching is only one aspect that could affect the price of a cryptocurrency. Investors should not rely solely on this factor when making investment decisions. It is also important to note that whales have their own trade purposes and motives, and it is not always easy to predict their movements or the influence they will have on the market.
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How to “watch whales”?
There are special crypto sites that offer Crypto Whale tracking and “monitoring” services with various metrics to help small investors.
Crypto enthusiasts and investors can benefit from free services from companies such as Whale Alert, which offers dynamic alerts and tracking for a variety of cryptocurrencies. Followers of @whale_alert on Twitter can expect timely alerts whenever a crypto whale makes a move in the crypto market.
Whale Alert, which has over a million social media followers, uses bots to provide real-time trading alerts to traders and investors. Other than that, there are plenty of whale watching spots to help you out.
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