Following a wallet over time
Holdings, history and profit/loss on a single wallet, and the limits of what one wallet page can show.
What a wallet page shows
A wallet page shows what the wallet holds now, its recent moves and, where we can measure it, profit or loss on positions it still holds. Profit and loss are measured from when the wallet entered our tracking, so earlier history is not counted.
Reading history honestly
Look for patterns rather than single moves: does the wallet withdraw from exchanges and hold, or cycle coins on and off? Does it hold a few tokens or dozens? Where the cost basis comes from an exchange withdrawal, it uses the on-chain price at that moment, because the exchange’s own fill price isn’t visible.
Leaderboards need a second look
A wallet can top a profit leaderboard while showing a tiny current value. That usually means it already moved most of its holdings out. Before drawing a conclusion from a ranking, open the wallet and read its value and last activity.
Try it on a live page
- Find a wallet in the top 10 whose current value is very small compared with its profit figure.
- Open it. When was it last active, and what does its history suggest happened?
- Now find a top-10 wallet with a large current value. How is its story different?
Check yourself
1. Profit/loss on a wallet page is measured from…
2. A top-ranked wallet shows a current value of $40. The likeliest explanation is…
3. For a position that started with an exchange withdrawal, cost basis uses…
Go deeper
How to Track Ethereum Whale Wallets: 5 Free Methods [Live Data] →Which Ethereum Whale Wallets Are Actually Profitable? A 369-Wallet P&L Study → Glossary: cost basis →Glossary: hodl →Describes past on-chain activity and how our data is built. Not investment advice. Method details: data methodology.
