Whale Games: Backtesting the impact of large transfers on 1000+ coins (Santiment Weekly Pro Report)

Like it or not, crypto is still a whale’s playground. Even in 2021, the on-chain behavior of large addresses can often have a disproportionate impact on the coin’s price action, regardless of the wholesale market sentiment or retail bias.

This ‘whale’ hegemony seems to ring especially true with many low and mid-cap coins, where it is still common to find 80-90% of their non-diluted supply owned by a handful of king-size wallets.

Due to their potential impact on the market, Sanbase features several indicators to help you track the day-to-day behavior of large token holders. Our Holder Distribution metric, for instance, tracks the combined balance of different investor cohorts, from entry-level holders to the coin’s largest millionaire addresses.

In a bid to expand our whale coverage, we’ve recently introduced a new indicator - ‘Whale Transaction Count- which tracks

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