Why Do We Need To Track Wallets Of Crypto Whales.

Why Do We Need To Track Wallets Of Crypto Whales

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The term “crypto whale” is used to describe the large holders of digital currency. They hold substantial wealth in crypto wallets and may thus have an outsized impact on the market’s direction. In this piece, we will discuss who the crypto whales are, why small-scale traders and investors should track whales’ wallets and what tools can be used to do it effectively. Also, we will discuss some of the best crypto portfolio trackers that can be helpful in portfolio management and digital assets handling.

Key Takeaways

  1. Crypto wallet tracker is a tool used to track wallets of crypto whales to stay informed about price movements, market sentiment etc.
  2. Crypto whales are large crypto asset holders who can influence these assets’ prices.
  3. Tracking crypto whale wallets helps identify upcoming market trends, check the network status and prevent suspicious activity.

First, Who Is A Crypto Whale?

Most crypto coins are held by some large holders who can influence the price of these crypto assets. Such holders are commonly referred to as crypto whales.

According to the amount of held assets, it is common to subdivide the crypto investors into different maritime animal species where most holders belong to the Shrimps group with less than 1 BTC in the wallets, and whales own about 2,000 BTC.

Active investors and crypto traders need to understand the behaviour of whales in the market.

Whales can be individuals or organisations that own a large amount of cryptocurrency. For example, MicroStrategy is an organisation that owns almost 130,000 BTC, and its behaviour in the market can influence the price of BTC. 

Thus, tracking the actions of crypto whales provides timely information about the price movement of a crypto asset to traders and investors.

However, the phenomenon of whales is common in the crypto industry. The same thing occurs also in traditional markets. When a significant market player, like a famous brand or a large hedge fund, announces an open position in a particular asset, the price of this asset increases. And when such a player sells an asset, the market usually follows them, doing the same.

Crypto and NFT transactions are executed on the blockchain. Thanks to blockchain’s high degree of transparency, transactions in the whales’ wallets can be identified by the size of their crypto positions. Simply put, wallets held by whales can be tracked to understand how the broader market will react to their actions.

Crypto traders and investors constantly monitor the number of crypto assets entering and exiting exchanges. When a cryptocurrency, such as BTC or ETH, moves in large quantities to exchange, a selling action is expected to occur, causing the price to drop. Conversely, if digital coins flow from exchanges to wallets, this is considered a signal of a future rise in price.

If wallets hold significant cryptocurrency positions, they are considered crypto whale wallets. Such wallets and their transactions are regularly tracked by investors, which can help assess the movement of the cryptocurrency’s price stored in the wallet.

Overview Of Crypto Wallet Trackers

Following the whereabouts of crypto whales’ wallets might reveal a lot about their spending habits. 

A cryptocurrency wallet tracker is a tool that simplifies exploration and enables traders to monitor wallets of interest. The tracker offers portfolio monitoring, price alerts, and transaction history analysis, among other features.

With these instruments, investors can identify the accounts of whales and monitor their fund purchases and sales, giving them a clear insight into the market sentiment and direction.

Most investors hold more than one cryptocurrency in their portfolio. To keep track of market movements, they need to identify and monitor multiple wallets that hold large volumes of the cryptocurrencies they are interested in. Tracking tools scan the blockchain, and when the whale wallet captures transactions, the tools detect them in real time and notify the user.

These trackers can be integrated with various wallets and multiple exchanges via API to gain access to the on-chain data feeds. Thus, crypto portfolio tracker apps fetch data from the tracked platforms to provide a trader real-time updates on crypto prices, portfolio balances, and other transaction details. 

Crypto portfolio tracker features can be customised according to your needs; for example, you can set up push notifications for the tracked wallet so that a notification alert is sent to you every time a transaction occurs. 

A crypto portfolio tracker is a valuable solution for traders and investors since it helps track the actions of crypto whales. These solutions can provide analytics on whale activity, which can help make informed and adequate investment and trading decisions.

Why Should You Track Top Crypto Wallets?

Investors and traders track and analyse top crypto wallets since they can provide valuable insights into various aspects of the cryptocurrency market. Here are some key reasons why tracking top wallets can be beneficial for you:

  • Network status and health – Analyzing transaction patterns and volumes can provide some valuable information about the overall health of a blockchain network and its status. This information can help forecast possible scalability issues or identify the best time to execute transactions.
  • Following flows of funds – You can get helpful information by observing the funds’ movement between addresses. This information can help you understand the ways that are used in the network for transferring and storing crypto assets.
  • Market sentiment and trends – Exploring and understanding the transaction patterns of prominent market participants can provide valuable insights into general trends in the market and the moods among influential investors. This information can help you make efficient trading decisions since market sentiment and trends are the critical factors influencing the crypto market and potential price shifts.  
  • The popularity of specific tokens – When monitoring top wallets, you can identify which tokens are being held, staked or transacted by influential market players. This information can help you spot popular tokens that may be beneficial for future investment.
  • Security – Tracking top crypto wallets is useful for identifying suspicious activity, such as scams or illegal transactions. This can help you evaluate your funds’ security and assess the market’s potential risks.

Tracking and analysing top crypto wallets can help you collect the necessary information about market trends and the behaviour of influential players so that you can make more informed and beneficial decisions in the ever-evolving world of cryptocurrencies.

How To Find A Wallet To Track

Tracking the crypto wallets of large and influential market players or whales can greatly benefit your investing experience. Selecting a wallet to follow can be challenging. Of course, opting for a wallet dramatically depends on your intentions for tracking. However, there are common things that investors look at when tracking a wallet:

  • Previous Investments – Before adding a wallet to your tracking list, study its records to find out what assets it has sold and how these assets were managed. Look at the wallet’s history of buy and sell transactions and the gain or losses made from these transactions. If the wallet has a significant profit from most of the previous trades, then it is worth paying attention to this wallet.
  • Transaction Flow – Carefully study where the funds come from and where they go. It is vital to identify whether the wallet is an exchange or belongs to an individual. Typically, individual wallets have fewer transactions; they are less frequent and generally, the wallet interacts with fewer wallets.
  • Profit/Loss Ratio – Explore the assets that the wallet holds and the value of these assets. If the wallet gains profits from the assets under its management, tracking its trades might be useful.

Top 5 Best Crypto Wallet Trackers

There are a lot of tools that make wallet tracking easier. Taking into account the above considerations, you can start looking for a tool that would work best for you. However, selecting one instrument among thousands of similar tools can be complicated. Here is a list of the five best crypto portfolio trackers you can use as a guide to choose the tracker that corresponds to your needs.


Nansen is a popular on-chain analytic tool that allows you to research the value of various blockchain assets across multiple chains. It offers features that enable investors and traders to investigate a wallet address or a token. 

Nansen has a wallet profiler that helps you understand a wallet’s assets and actions. 

Wallet profiler is one of the key features of Nansen that allows you to check the details of any supported blockchain wallet. 

Nansen uses pre-set templates to label wallets, which will assist you in your crypto research.

Nansen pulls data from various blockchains providing profound analytics for NFT, tokens and DeFi.

Though Nansen is a good tool for wallet tracking, it can be challenging to use for those new to the crypto world. Moreover, the free plan has limited options, and the premium version is rather expensive. 


DeBank is a Web3 crypto portfolio tracker. It tracks on-chain crypto portfolios across all Ethereum-compatible blockchains, such as Binance Chain, Polygon, Avalanche, and others.

DeBank is an excellent option for those who track transactions on NFTs. It also supports the largest DeFi chains and protocols, allowing users to observe a wide range of selections. 

DeBank also offers various services, such as a Web3 messaging tool, enabling communication between web3 users and founders. 

The platform is helpful since it groups all of your assets based on the blockchain network and the protocols they are running on. A history tab on DeBank allows you to check previous transactions, while tab one will let you view your NFTs from well-known collections on Ethereum and Polygon. DeBank is helpful for investors who wish to monitor their investments overall.

DeBank also has a Whales section where you can select whale wallets to track.

DeBank is a new developing tool, though it is already considered one of the best crypto portfolio tracker tools. This means it needs further improvements; for example, its landing page needs to be enhanced. 


Like DeBank, DexCheck is a relatively new platform for wallet tracking that offers numerous tracking features, most currently available for free. 

DexCheck supports ten blockchains. Wallet analyser allows users to track token buys and sells across these blockchains. 

Along with individual wallet tracking, DexCheck also has a crypto whale transaction tracker. The filter may be changed to a minimum transaction amount of $100,000, with a default starting point of trades greater than $10,000. On Ethereum, a similar feature capability is also available for large NFT transactions.

Besides analysing individual wallets, DexCheck also has a crypto whale trade tracker, which tracks large trades on each supported chain. The filter starts by default at trades higher than $10,000 but can be adjusted to a minimum transaction value of $100,000. A similar feature is also supported for large NFT trades on Ethereum.

The top traders on each chain are displayed as a list of top DEX traders. Depending on the filter criteria, traders can be sorted by realised or unrealised profit and categorised by the exchange token.

Though DexCheck is a developing platform that still needs a lot of improvements, its developers have ambitious plans for the future, such as adding support for new blockchains, copy trading functions and integration of AI.


Etherscan is one of the most used tools in the crypto world. Etherscan was launched in 2015 as a block explorer; users address it to get easy access to blockchain data. Now it can also perform the functions of a portfolio tracker and is considered one of the best crypto portfolio tracking apps.

As a wallet portfolio tracker, Etherscan calculates the total value of the wallet’s crypto holdings and provides information about the tokens held by tracked wallets or airdropped into the wallet. 

With Etherscan, you can view transaction history from the most recent transaction to the very first one. You can also download the transaction history to your device as a CSV file.

Etherscan displays detailed information about token holders and the distribution of the tokens in circulation.

Etherscan, however, can be challenging for beginner traders since the information on the platform is presented in a slightly tricky manner. 

Though Etherscan can be used for tracking wallets, block exploring is the primary purpose of Etherscan. 


ClankApp is another leading blockchain whale wallet tracker. ClankApp can be used via API, and the platform’s tracking services are free. However, you can donate via the dedicated link if you like the platform’s services.

ClankApp allows wallet tracking across 24 blockchains, including Bitcoin, Ethereum, Binance Chain and Stellar. Among other valuable services, ClankApp provides exchange analytics and alerts via email. 

ClankApp is an excellent option for beginners since the platform is free, though very intuitive and easy to use.

The main drawback of the crypto portfolio tracker is the absence of comprehensive charts and graphs necessary for investors to have an overall picture of a crypto whale’s transactions over time. 


Tracking the crypto whales’ wallets is essential for successful trading and portfolio management. It helps you identify the market sentiment, follow the market trends and receive helpful information from monitoring trades. With tools specially designed for wallet tracking, monitoring transactions in the blockchain is easy, even for beginner traders. 

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