With the nonstop nature of the crypto market, investors need every tool possible to stay ahead of the game.
One very useful tool for keeping tabs on the market is Whale Alert, a system for the live tracking and analysis of millions of daily blockchain transactions.
According to the website, Whale Alert offers API options for custom alerts that can be used for analytics and trading bots, as well as a live alert system for large and unusual transactions that is available for free on Twitter and Telegram. The service currently tracks Bitcoin (BTC), Ethereum (ETH), EOS (EOS), Binance Coin (BNB), Stellar (XLM), NEO (NEO), TRON (TRX), Tezos (XTZ), Tether (USDT), XRP (XRP) and the top 100 ERC-20 tokens.
Fresh Powder Incoming 💸
Two common use cases for Whale Alert’s signals are the tracking of Tether minting, which often signals that fresh capital is about to enter the market, and the tracking of blockchain project treasuries, which allows investors to keep tabs on the activities of altcoin management teams.
— Whale Alert (@whale_alert) October 5, 2019
Another notable use case is keeping tabs on the Ripple XRP escrow wallet, as investors are able to see when funds are withdrawn to be distributed to Ripple’s various business partners.
🚨 🚨 🚨 🚨 200,000,000 #XRP (49,935,979 USD) transferred from Ripple Escrow wallet to Ripple
— Whale Alert (@whale_alert) October 2, 2019
Given the transparent nature of the crypto market, investors are able to track the large capital movements of institutions and ‘whale’ traders, which can be a useful addition to any good investment strategy. Whale Alert is undoubtedly one of the leaders in this category and is worth a look.
More: Whale Alert Website | Twitter | Telegram
Interesting: Coinbase Adds New Tools for ‘Smarter’ Crypto Trading
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.