Many people are interested in how they can track transactions involving cryptocurrencies. This knowledge is primarily needed to protect yourself and not lose money, as the crypto-giants oversee the market. However, sometimes tracking the actions of the big players only sometimes helps in terms of protection, and additional support is needed.
And that’s where cryptocurrency mixers come in. These services mix coins of different users, which helps break the chain of blocks – no one will know about your transactions and how much cryptocurrency you have in your account. We can recommend https://yomix.io. It is not a bad mixer because it has record-low commissions and almost instantly realizes transactions.
Who are the big players?
The big players are the holders of many cryptocurrencies, and they can be individuals or entire organizations. For example, analytics company MicroStrategy owns almost 150,000 Bitcoins and can easily influence its price through transactions. Tracking crypto-magnates’ actions provide timely information about potential changes in the price of a particular currency.
How can I track the actions of major players?
There are options for tracking the actions of crypto-giants. They can provide analytics on the activities of the whales and, in some cases, can also make investment decisions for the user. The first thing to do is to pay attention to and analyze crypto-giants’ actions by yourself. You don’t always need special software to do this; you must watch for triggers. Remember that crypto-giants often try to hide their actions by bypassing buying or selling on the stock.
They perform an over-the-counter transaction between two wallets. For example, they may send altcoins to a purse that will send them back in U.S. dollars, eliminating the cryptocurrency without the market detecting it. If the network has recorded a significant transaction, it is highly advisable to examine to identify the wallets involved. If crypto-giants do not use mixers, you will understand that they have many altcoins in their account – a sure sign that you have spotted a significant player.
Still, manually monitoring the actions (even if it concerns only one cryptocurrency) can be tedious and time-consuming, so there is a reason to use special utilities. Such programs scan the blockchain and find transactions involving a considerable amount of currency, then record these addresses and transmit the data. Such tools include, for example, Whale Watchers, Clank App, and Coincarp. In addition, Etherscan and Solscan also offer big player tracking features.
Different tracking tools have additional capabilities: some offer only simple analytics and notifications of user actions, while others provide more extensive powers. Tracking tools help you be more aware of the big players’ actions. However, the market’s reaction to a transaction is unpredictable. In any case, having data about the behavior of the giants is helpful because, sometimes, it can play an assertive role in shaping the rate of a particular currency.