Following a token through whale data
What a token page tells you: whale count, flow, the DEX share, the largest move, and how to read them together.
Start with breadth
On a token page, the first number to read is how many tracked wallets moved the token in the window. A token moved by 150 whales tells a broader story than one moved by 3, even at the same dollar total.
Then the mix
Check how much of the volume was DEX trading versus exchange transfers. If almost all of it is exchange moves, read the page as custody flow (coins going on and off exchanges), not as trading.
Then concentration and the biggest move
Look at the largest single move and how much of the total it explains. If one move is half the month, the “trend” may really be one decision by one holder. Open that move’s transaction to see where the coins went.
Try it on a live page
- Read the 30-day summary. How many whales moved LINK, and what was the accumulation share?
- Find the sentence about DEX trading. What percentage of volume was actual swaps?
- Rewrite the page’s summary in one plain sentence a friend would understand, without the words “bought” or “sold”.
Check yourself
1. The first thing to read on a token page is…
2. If 99% of a token’s whale volume is exchange transfers, the page mainly shows…
3. One move explains half the month’s volume. That means…
Go deeper
How to Build a Crypto Watchlist Using On-Chain Whale Data →Multi-Wallet Convergence: The On-Chain Signal That Reveals Coordinated Whale Buying → Glossary: exchange flow →Glossary: flow direction →Describes past on-chain activity and how our data is built. Not investment advice. Method details: data methodology.
