Tracking whale wallets is a very easy way to catch x1000 gems early.
However, a lot of people don't know the
downsides.
Here are the downsides 👇🏽🧵
However, a lot of people don't know the
downsides.
Here are the downsides 👇🏽🧵
1/ Whale’s wallets hide a lot of knowledge for those who know how to track their wallets well.
You get to spot gems with up to x2000 potential or more, solid projects for long term and high quality strategies.
This giga-brain has made over $2 million from tracking wallet👇🏽
You get to spot gems with up to x2000 potential or more, solid projects for long term and high quality strategies.
This giga-brain has made over $2 million from tracking wallet👇🏽
2/ Hence watching whale wallets it’s like getting the front seat at your favorite musicians concert.
But with all these mouthwatering benefits, it has some downsides you should take note of.
Let’s dive in 🏄♂️
But with all these mouthwatering benefits, it has some downsides you should take note of.
Let’s dive in 🏄♂️
3/ 1️⃣ They get rugged a lot
If you have never been rugged, scammed or lost money in crypto, you probably haven’t tried hard enough lol.
When it comes to whales, they get rugged a lot thats why they have a 7-9 figures portfolio- Big risk takers.
If you have never been rugged, scammed or lost money in crypto, you probably haven’t tried hard enough lol.
When it comes to whales, they get rugged a lot thats why they have a 7-9 figures portfolio- Big risk takers.
4/ When a rug happens, be sure that some whales just lost over 7 figures.
When tracking whales wallets, you have to question their judgement
When you see them investing into a project that looks shady, you should trust your gut & not invest because they can afford to get rugged
When tracking whales wallets, you have to question their judgement
When you see them investing into a project that looks shady, you should trust your gut & not invest because they can afford to get rugged
5/ 2️⃣ Rapid Change in their strategies
Whales have a very active portfolio, hence the rapid changes.
If you go through their transactions most especially the smart ones, you will see they do transactions every hour- there’s always something to do.
Whales have a very active portfolio, hence the rapid changes.
If you go through their transactions most especially the smart ones, you will see they do transactions every hour- there’s always something to do.
6/ Its either harvesting yield, shuffling LP positions, aping into new projects, bridging between chains, sending to exchanges or swapping to stables.
This is necessary because the market itself changes rapidly especially during times like this.
Looks overwhelming yeah? 🥴
This is necessary because the market itself changes rapidly especially during times like this.
Looks overwhelming yeah? 🥴
7/ 3️⃣ “ Whale-only” strategy
Sometime when tracking whales, you will find them involved in strategies you cant follow just right away due to high risk or you cant afford it
Their stablecoin strategy is a good example
Yield farming with stablecoins is a complex & risky activity
Sometime when tracking whales, you will find them involved in strategies you cant follow just right away due to high risk or you cant afford it
Their stablecoin strategy is a good example
Yield farming with stablecoins is a complex & risky activity
8/ Some risks that come with this strategy:
• Impermanent loss
• Smart contract - bugs can lead to loss of funds in liquidity pools
• Liquidity - Liquidity pools can become illiquid, which can make it hard to withdraw funds
• Impermanent loss
• Smart contract - bugs can lead to loss of funds in liquidity pools
• Liquidity - Liquidity pools can become illiquid, which can make it hard to withdraw funds
9/ 4️⃣ Fake Transactions
There are a lot of accounts that post about tracking whale wallets in this space.
However, most people don’t know how to spot a real transaction from a fake one.
There are a lot of accounts that post about tracking whale wallets in this space.
However, most people don’t know how to spot a real transaction from a fake one.
10/ @damidefi here gives a detailed explanation on how to spot these fake transactions to keep you safe.
Do Read Through 👇🏽
Do Read Through 👇🏽
11/ Conclusion
Tracking whale wallets have helped a whole lot of people in making life changing money but people need to understand that they are humans too.
They can be very wrong at times.
The main conclusion here is to never follow them blindly.
Tracking whale wallets have helped a whole lot of people in making life changing money but people need to understand that they are humans too.
They can be very wrong at times.
The main conclusion here is to never follow them blindly.
@0x366e @CryptoGirlNova @0xSalazar @splinter0n @wacy_time1 @belizardd @CryptoGideon_ @cryppinfluence @Defi0xJeff @0xCrypto_doctor @coinesper @the_smart_ape @DeFiMinty @Flowslikeosmo @Hercules_Defi @zerototom @BobtheBuildooor If you found this thread helpful;
• kindly follow me: @haylesdefi
• Like and RT 🙏🏽❤️👇🏽
• kindly follow me: @haylesdefi
• Like and RT 🙏🏽❤️👇🏽
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