Does anybody here base a trade on whether there are many large holders on the "rich list".
I have been doing some research lately but I am having a hard time determining whether a "rich list" wallet actually belongs to a whale or an exchange.
Exchanges usually send a large amount of coins to cold storage which might appear as a whale but its actually not.
One way I determine if its an actual person is if the withdraw ends in *.98, because *.02 is the fee Bittrex charges for withdraws. So if somebody withdraws 1000 Coins, 999.98 will get deposited.
For Example on CRYPT COIN,
http://chainz.cryptoid.info/crypt/address.dws?EiEifriBwFb3D4i7euoaJz4pZbVaAH3Tzf.htmHe first made a withdraw of 100 Coins, probably to test his wallet and then made a large withdraw. About 100 BTC worth.
However if you look at when he made the withdraw.99.8 Coins, the change went to multiple wallets which leads me to believe this might be an exchange.
Another example is,
http://chainz.cryptoid.info/crypt/address.dws?EzjNFC5B5EjUSBshD6aMi5NkJr1CybQQFY.htmLooks like he bought 55,000 Coins because 54999.98 was depositted but if you look at the "Guestimmated Wallet", it has 500 addresses or so. Hardly unlikely this is a whale but instead might be an exchange.
Any experts in this topic?