Made Money from Spotting what whales are Buying?

[GigaBit]

If you are a web3 enthusiast, particularly those active in DeFi and crypto trading, let me know how often you use on-chain analytics platforms like Glassnode, Nansen, or Dune to track whale wallets and top traders' activities.

What do you do with those discoveries? Do you start buying what the whales or big investors are buying, no matter how small your funds are?  Or do you do these just to catch market trends?

If an ordinary investor follows whales, it is definitely not reasonable. Because whale investors have the ability to make a big move in the market. If today's whale investors lose some money, they can also make a big profit on any trade, but if ordinary investors follow them, they will not get that opportunity. If they lose, they will not be able to arrange sufficient funds to recover it.

Investing by looking at the market trend can sometimes be risky because the trend can change at any time. Before investing, the investor must consider the individual and adopt a good strategy by following the general investors. If you follow the whales' strategy, there will be a big chance of losing.

[pusaka]

What do you do with those discoveries? Do you start buying what the whales or big investors are buying, no matter how small your funds are?  Or do you do these just to catch market trends?

If people are actually doing this, then it seems naive to me to follow this so called whales do what they do, how much influence can whales on these platforms influence the market conditions, it's too shallow to me because lots of traders in the world are influencing the market, and a certain number of people on a platform that's not really popular called themselves as market influencers.

Nah, I won't get involve.

There are many factors that influence the market, and even if we follow the whales, it doesn't mean our entry will be the same as theirs, and it might even be too late. Usually, we only see when the price is very high and then enter, and when that happens, the risk is high.

If we focus on that, we'll likely overlook things that are actually more important. In the market, there's not just one thing we need to pay attention to, but many. So, we shouldn't act carelessly because we're using money that must be managed well.

[shinratensei_]

What do you do with those discoveries? Do you start buying what the whales or big investors are buying, no matter how small your funds are?  Or do you do these just to catch market trends?

If people are actually doing this, then it seems naive to me to follow this so called whales do what they do, how much influence can whales on these platforms influence the market conditions, it's too shallow to me because lots of traders in the world are influencing the market, and a certain number of people on a platform that's not really popular called themselves as market influencers.

Nah, I won't get involve.

Whales in this case can be blackrock, microstrategy, or anything buying something in the market.
When ETH was $1500 whales are buying ETH, look at the price right now. Although influence might not be big, but they still can change around sentiment at some extent.

Like how Tom Lee is bullish with ETH while also owning biggest ETH fund. As a result people are becoming bullish as well.
Whales onchain activity can be a good clue and alpha honestly sometime.

[justdimin]

If an ordinary investor follows whales, it is definitely not reasonable. Because whale investors have the ability to make a big move in the market. If today's whale investors lose some money, they can also make a big profit on any trade, but if ordinary investors follow them, they will not get that opportunity. If they lose, they will not be able to arrange sufficient funds to recover it.

Investing by looking at the market trend can sometimes be risky because the trend can change at any time. Before investing, the investor must consider the individual and adopt a good strategy by following the general investors. If you follow the whales' strategy, there will be a big chance of losing.

Yeah, we can't just follow them and expect to make the same amount. It's true that our capital is smaller, and even returns won't matter. Because turning 1 billion into 1.1 billion is a huge deal, and they chase that, having that kind of capital makes it hard to invest into things, you can't invest like a smaller investor, so even a 10% return deal is huge.

But, if you have a thousand dollars and turn that into 1.1k dollars, that's nothing, it's just hundred bucks, you can ask a friend to spot you that much, it's literally that small. So believe me, following what they do, because we lack the capital, is not going to be good for us. Because the return ROI is different, smaller people need higher returns to mean something.

[Josefjix]

What do you do with those discoveries? Do you start buying what the whales or big investors are buying, no matter how small your funds are?  Or do you do these just to catch market trends?

If people are actually doing this, then it seems naive to me to follow this so called whales do what they do, how much influence can whales on these platforms influence the market conditions, it's too shallow to me because lots of traders in the world are influencing the market, and a certain number of people on a platform that's not really popular called themselves as market influencers.

Nah, I won't get involve.

Whales in this case can be blackrock, microstrategy, or anything buying something in the market.

Like how Tom Lee is bullish with ETH while also owning biggest ETH fund. As a result people are becoming bullish as well.

I can agree with you on this if whales are a group of companies buying heavily and not a mere richly individuals buying because there is a big difference in purchasing capacity and power in them, and I'm doubting the fact that these companies are reflected on those platforms OP listed. I was specifically talking about the whales that appear to be those platforms.

[masulum]

If you use tools like Telegram Bots or GMGN web, you can actually track purchases by whales or individuals identified as profiting significantly from degen play, and their wallet addresses will be marked with smart wallets. However, they won't be 100% profitable on every trade, so be cautious in case a whale or smart wallet makes a purchase. You could be following them, but when they sell, you've just making entry and finally you are failed to save your money while that coins getting dump because of whales and smart wallet leaving early.

[HustleZ]

Yeah, we can't just follow them and expect to make the same amount. It's true that our capital is smaller, and even returns won't matter. Because turning 1 billion into 1.1 billion is a huge deal, and they chase that, having that kind of capital makes it hard to invest into things, you can't invest like a smaller investor, so even a 10% return deal is huge.

But, if you have a thousand dollars and turn that into 1.1k dollars, that's nothing, it's just hundred bucks, you can ask a friend to spot you that much, it's literally that small. So believe me, following what they do, because we lack the capital, is not going to be good for us. Because the return ROI is different, smaller people need higher returns to mean something.

I can't agree more. A retail investor shouldn't make the whale's moves the base of their investments rather they should take it as an opportunity but not completely rely on it. Like you said, their capital is way larger than us so for them a short movement to their side will be very profitable but it can't be the same for us and we will try to hold till we are satisfied and that moment won't come because the whales just entered the market to capture a short move and the overall bias was against us. So we can't completely rely on whales. The only thing we should Do is DCA, I believe that's the only way to get financial freedom through Bitcoin for a small player i.e retailer.

[Strongkored]

What do you do with those discoveries? Do you start buying what the whales or big investors are buying, no matter how small your funds are?  Or do you do these just to catch market trends?

It's difficult to follow whales movements, and I even think it's quite dangerous because they have the ability to act beyond our predictions. While whales can certainly move the market, they can also manipulate it, and that's dangerous for retailers like us, who are their targets. So, I no longer follow whales. In the past, for example, during ICOs, I only invested in projects where whales were involved, but currently investing more because I believe the coin will be good, not because of the movements of the whales.

[Mpamaegbu]

~

Doing one's research is not about spying on what whale is doing on their trade because that is risky since you also won't know when they will be pulling the rug off your feet. To do one's research is to study the market through charts, volumes, chain analysis, quantitative and qualitative understanding of the market, or fundamentals like news around the crypto space community sentiment or biase on the coin etc.

Doing all that onchain analysis also boils down to spying on what others are investing on through their wallets. It's not a bad thing, if you asked me. In fact, doing that gives more insight into what one's getting into than groping without a defined direction. It's also part of doing one's research.

To follow a trader as copy trading is risky. It is better to take time to learn through your mistakes and build a strategy.

Doing onchain checks or analysis of others' wallets has to do with spots trading to hodl, not for Futures trading which is synonymous with copy trading.

[CryptopreneurBrainboss]

What do you do with those discoveries? Do you start buying what the whales or big investors are buying, no matter how small your funds are?  Or do you do these just to catch market trends?

Isn't this like the worst way to trade because whales are one of the worst people to follow, they can manipulate the market for their selfish reasons. I never had a good experience following whales, they sell almost when the market want's to catch up to what they're buying and might later rebuy but manipulation is what they're known for so I can't copy them.

Instead I believe in spotting trends myself before they pick up. Spotting trends can be done when you analyze the sentiment of the market, what are influences talking about and what's making waves lately. For me I believe, when the whales already know about them before you then you might as well be late already. You should be locked in before others know and get out when others are coming in, that's how I gamble on my altcoins.

[bitgolden]

It's difficult to follow whales movements, and I even think it's quite dangerous because they have the ability to act beyond our predictions. While whales can certainly move the market, they can also manipulate it, and that's dangerous for retailers like us, who are their targets. So, I no longer follow whales. In the past, for example, during ICOs, I only invested in projects where whales were involved, but currently investing more because I believe the coin will be good, not because of the movements of the whales.

I remember someone made some bot that traded based on the big movements in bitcoin. Like when someone withdraw huge amounts or deposited huge amounts, and he failed and stopped. Proves that, even if you knew their movements, you wouldn't really make money from it, but that doesn't even mean we know their movements.

Because just because they deposited doesn't mean they buy right away, and in many cases whales end up using OTC and that's how they make money. Think about it, these big places like binance end up making bitcoin too, in billions, so when a rich one end up buying, you think they will just deposit to binance and end up trading there right away? No, they give the money to them and then they end up getting the money directly from binance.

[tvplus006]

What do you do with those discoveries? Do you start buying what the whales or big investors are buying, no matter how small your funds are?  Or do you do these just to catch market trends?

It will be very difficult to open orders at the same price at which large investors bought, since the price may have already changed by that time. And there may be such a situation that when you just start buying, they will already start selling the purchased coins.

[Ndabagi01]

If you are a web3 enthusiast, particularly those active in DeFi and crypto trading, let me know how often you use on-chain analytics platforms like Glassnode, Nansen, or Dune to track whale wallets and top traders' activities.

What do you do with those discoveries? Do you start buying what the whales or big investors are buying, no matter how small your funds are?  Or do you do these just to catch market trends?

I remember adding the wallet of one whale trader who basically deals on Solana memecoins on web3 before. The hype about him was all over the place as he gets to turn small amount to big ones. I was compelled to watch his wallet and see the coins he buys, I didn’t for once bought what he bought but time to time watch his wallet. I got to just realize that I can’t be on the same pace as him.

He spends a lot of money on those coins and when the profits comes for him, they come big and when the loss comes, they also come big but his buys entirely ends up for him being in big profits. I just had to let him be because I can’t afford to spend as much as he does and my amount is no where compared to his that can sacrifice buying even upto 15 different Solana memecoins to trade on.

This is basically copy trading though, but they’re not also 100% certain in all their buys but since they’re in the market and knows more, they end up being in profit while risking a lot. As long as you can’t risk like them by diversifying your portfolio into different memcoins, you may not earn as much as they do in the long run.

[MinMan]

I remember someone made some bot that traded based on the big movements in bitcoin. Like when someone withdraw huge amounts or deposited huge amounts, and he failed and stopped. Proves that, even if you knew their movements, you wouldn't really make money from it, but that doesn't even mean we know their movements.

Because just because they deposited doesn't mean they buy right away, and in many cases whales end up using OTC and that's how they make money. Think about it, these big places like binance end up making bitcoin too, in billions, so when a rich one end up buying, you think they will just deposit to binance and end up trading there right away? No, they give the money to them and then they end up getting the money directly from binance.

Whales are really smaryy and that is the reason why they are called the whales. They can dominate the entire ocean of traders with just one move. Moving bitcoins in and out is not a difficult task for them if they can create false situations where such bots will spot the movements and will start giving buying/selling signals which the whales can use for their own benefits.

The only real thing to track will be exact buy and sell orders in bulk on any of the reputed exchanges. Like for example, kucoin has started giving whale alerts for large transactions but these have a specific interval of delay where the whales have already made their move and now smaller fish are feasting on the remaining. Even if you are quick, the changes of getting profits here are minimal.

[Powerjumboo]

If you are a web3 enthusiast, particularly those active in DeFi and crypto trading, let me know how often you use on-chain analytics platforms like Glassnode, Nansen, or Dune to track whale wallets and top traders' activities.

What do you do with those discoveries? Do you start buying what the whales or big investors are buying, no matter how small your funds are?  Or do you do these just to catch market trends?

I don't always keep track of when the big whales buy or not, and especially since I don't rely on the trading platform very well, I don't keep track of the news very well. Maybe when they buy and sell in the market, it has a slight impact on the market, but those who keep an eye on it can take advantage of this opportunity. I started trading with my own opinions and using some trading strategies, but I am moving forward with a very small amount of money. I don't know if I will be successful, but I hope that I will gradually become experienced in the trading platform and eventually succeed. When I gain good experience in trading and adopt different strategies, maybe I will keep track of different news such as when they bought and sold, etc. and use them.

[Asiska02]

What do you do with those discoveries? Do you start buying what the whales or big investors are buying, no matter how small your funds are?  Or do you do these just to catch market trends?

I don’t do that, not because I don’t want to also win big from their big buys but because it does not give much difference with what I’m able to buy. Large money invested simple means more money to profit from. The difference in price of what I buy with what they can is always significant, until maybe I become more financially viable like them that I can put their wallets on my watchlist.

Asides that, they get good insider informations and that’s what makes them much difference from us that buy in smaller quantities and we get used as liquidity for them to exit the market most of the time. They also sometimes use it to their advantage, you can easily be used as liquidity when they make the necessary profit they want as they got in earlier than you. So following them has to be skeptical or you’ll risk losing more and they will keep gaining.

[bettercrypto]

If you are a web3 enthusiast, particularly those active in DeFi and crypto trading, let me know how often you use on-chain analytics platforms like Glassnode, Nansen, or Dune to track whale wallets and top traders' activities.

What do you do with those discoveries? Do you start buying what the whales or big investors are buying, no matter how small your funds are?  Or do you do these just to catch market trends?

You know, our research on a coin whether it has potential or not is just something that we really know to learn to identify the possibilities of seeing potential coins.

It's like gold that needs to be worked hard. It's hard to just rely on what others say or do, it's even harder when we ourselves have put in the effort or work so that we can succeed in something, and the joy it brings us is different.

[cryptoaddictchie]

What do you do with those discoveries? Do you start buying what the whales or big investors are buying, no matter how small your funds are?  Or do you do these just to catch market trends?

Me I just make a notification for those wallet but I do this when I have funds. Using whale activity as a guide works best when you treat it as a tool for spotting market trends and gauging sentiment, rather than blindly copying trades, combining it with research and gradual, thoughtful portfolio adjustments. Its not like you can earn like they do but they can literally gave tou an edge on what to look for.

[Mahiyammahi]

What do you do with those discoveries? Do you start buying what the whales or big investors are buying, no matter how small your funds are?  Or do you do these just to catch market trends?

I use whale notification for market trend. I think what you're saying it would be goes along well with degen play. If I'm not wrong there is lot's of paid tool to track those whale wallet. Sometimes you could have spot out some under rated gem, that could give you 100-200x gain.

Usually these whale/insider does change their wallet before buying or taking new entries. So you have to track all the connected wallet linked with it. It's lot's of time consuming also rewarding.

[SATWAT]

What do you do with those discoveries? Do you start buying what the whales or big investors are buying, no matter how small your funds are?  Or do you do these just to catch market trends?

It will be very difficult to open orders at the same price at which large investors bought, since the price may have already changed by that time. And there may be such a situation that when you just start buying, they will already start selling the purchased coins.

That will happen for sure. Such large orders are made public after a while. Even few trackers are not lively monitored and they will give us an update once the purchase was already made a couple of hours ago. This will create a false alarm and people will start opening their positions in that price range which to be honest can even be sell-out zone for these whales.

Following whales is really not that easy unless you know one of the whale personally and he/she are giving you signals just because you are their friend. In other scenarios, you will always be late even after you spot a whale transaction.