Whale behavior tracking continues to be an effective method for traders to find spots where assets may be about to go on a price tear, or alternatively, a dump. Below, we've highlighted three projects with accumulating whales (in their key respective high stakeholder trading address size tiers), and three with dumping whales:

⬆️ Increasing Number of Whale Address

Skale ($SKL) - 1m to 10m SKL Address Holdings

Maker ($MKR) - 100 to 10k MKR Address Holdings

Ocean ($OCEAN) - 1m to 10m OCEAN Address Holdings

⬇️ Decreasing Number of Whale Address

Ren ($REN)

The Graph ($GRT)

Basic Attention Token ($BAT)

Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.

One of our favorite metrics to keep an eye on as we analyze market health is active addresses vs. active deposits. When address activity is high and deposits are staying low, this is a good sign that prices can naturally grow.

As you would imagine, the numbers aren't just all in the ratio between these two metrics. We also want to see address activity in general moving up, even if that means deposits are moving up along with it. Here's a look at 3 great, as well as 3 not so great, candidates:

Looking Healthy:

Ethereum ($ETH)

The Graph ($GRT)

Sentivate ($SNTVT)

Looking Unhealthy:

Loopring ($LRC)

Crypto-Com ($CRO)

Skale ($SKL)

As we've done in previous weeks, we're continuing to keep an eye on which projects are seeing notable movement from their respective whale addresses. Watching which assets are seeing a growing amount of addresses worth $100,000 or more can give a great indication into future price pumps and dumps.

Below, we've listed three projects with notable rises in whale numbers, as well as three with notable drops:

⬆️ Increasing Number of Whale Address

Bancor ($BNT)

Skale ($SKL)

Sushi ($SUSHI)

⬇️ Decreasing Number of Whale Address

Celcius ($CEL)

Raiden ($RDN)

Yearn Finance ($YFI)

We recently posted about Ethereum's return above $2,000 this past week, and our explanation on one of the key contributors to why.

When active addresses move up over time for a crypto asset, while active deposits move down, it's a reliable indication of a token seeing growing utility without funds moving to exchanges for potential sell-offs. In other words, this is a very bullish pattern our pro traders look for often.

Our new Daily Active Deposits & Non-Deposit Activity Sansheets Model easily identifies which assets are developing patterns similar to Ethereum's. Here's a snapshot of which activity vs. deposit ratios are rising vs. their 3-month resting averages:

Here are some of the largest bullish divergences, according to this model. We look for high green bars (indicating large activity/deposit ratios), and large green dots on the above model, and rising orange lines on Sanbase here:

Skale ($SKL)

Enjin Coin ($ENJ)

Decentraland ($MANA)

Matic ($MATIC)

Sentivate ($SNTVT)