Comment
Author: Admin | 2025-04-28
Sieve out these tokens while tracking smart investors’ wallets. Block explorers attempt to label these kinds of tokens to protect investors. In cases where this is not available, a good way to detect scam tokens in wallets is by tracking the transaction history.Check how the smart money wallet acquired the token – did they buy, claim or receive the token from a peer? A claim transaction is usually labeled on EVM network explorers; another way to know a claim transaction is by tracing the transaction and verifying if the investor paid a fee (claim fee) in the process. The ‘claim wallet’ should have a good number of similar transactions too.If the investor didn’t purchase the asset on a DEX or CEX and it wasn’t sent by a peer, then it is likely a scam token riding on the wallet owner’s reputation. Trace the source wallet for the transaction and observe other transactions made by the wallet. Also, see if the smart contract’s page has more information about the issuing project, if yes, verify the information provided as it concerns the project.Crypto Whale Trackers vs. Crypto Wallet TrackersWhales are a unique set of investors. Not only do they hold a large percentage of an asset in circulation, they are most times regarded as the most informed and important set of investors. ‘Most important’ because their activities have much impact on the market, and ‘most informed’ because they are thought to be closer to the project team or know more about the project than most other investors. Also, they are seen as the biggest believers in a project.Because of this, investors try to track their moves and consider them in their investment strategy. Crypto whale trackers help investors in following whales.Whale trackers are similar to the usual wallet trackers. The working principles are similar. Whale trackers connect to aggregated on-chain data using API endpoints, just like wallet trackers. However, a major difference is the information they focus on.Whale trackers only focus on significant transactions from top holders, information presented by whale trackers is usually high-value transactions and transactions from ‘rich’ holders. Normal
Add Comment