Whale Alert
What is Whale Alert?
Whale alerts monitor large on-chain transfers above a size threshold, labelling counterparties where possible: exchanges, mining pools, custodians or unknown wallets.
How to read it
Large transfers are easy to misread because the overwhelming majority are internal housekeeping — exchanges shifting funds between hot and cold wallets, custodians consolidating UTXOs — none of which reflects intent to trade. Only two categories carry real information: large deposits from unknown wallets into exchanges (potential sell pressure) and large withdrawals from exchanges to unknown wallets (potential long-term holding). Even then a single transfer has weak predictive power; read the sustained trend in directional net flow instead. Address labelling itself is frequently incomplete or wrong.
Where it fits
Address metrics track how on-chain balances are distributed. Remember an address is not a person: exchange hot/cold wallets, custodians and change addresses all distort the count, so the direction of the trend matters far more than the absolute number.
Data status
The live chart for this metric is still being wired up. Other address-cohort tiers already carry real data — see the links below.