Crypto Whale is a Python-based Dash app for tracking whale activity in buying or selling walls on the cryptocurrency exchanges. Currently, it’s available only on GDAX, but more will come soon. This project is still in its growth stage and people are invited to support financially it and to bring in views that could help improve it. Crypto enthusiasts can call out issues, request new features and even submit pull requests to improve the app.
You can also check this link if you are interested in using a hosted version of the app. A member of the Ethereum community already hosts this as the developers raise money through donations to be able to migrate to AWS. If your page does not load properly for any reason, feel free to raise the issue but often it’s because of regular updating to the newest version of the codebase.
Crypto Whale Activity Tracking App Purpose
Currently, GDAX gives users the opportunity to see the buy and sell limit order volume through the ‘depth chart.’
However, this has its share of challenges. The depth chart does not show the source of the volume behind the buy and sell walls. It could come from a clique of whales trying to manipulate the market or from a large number of individuals placing orders around a modal point. Technically, users cannot see how much of present resistance or support levels are coming to individuals or to group clustering.
All the same, the difference is quite important as it affects how faster the users can pull the walls. Therefore, having the buy and sell information at the order level can prove quite valuable for traders. With the whale-watching app, you are able to access that very information by targeting individual limit orders that make the largest walls.
Specifically, it can help you emphasize the largest orders enable you to spot whales that may be manipulating the current price through various methods.