If you are a web3 enthusiast, particularly those active in DeFi and crypto trading, let me know how often you use on-chain analytics platforms like Glassnode, Nansen, or Dune to track whale wallets and top traders' activities.
What do you do with those discoveries? Do you start buying what the whales or big investors are buying, no matter how small your funds are? Or do you do these just to catch market trends?
I think tracking whales can be very useful!!! but it does not always mean you should copy everything they buy at all time because whales have way bigger funds and very different strategies compared to small avaerage traders in the market... sometimes they can also take risks that normal traders can not handle or even dream of!!! so blindly following them might lead to a lot of losses. I feel onchain analytics is more about understanding market trends and learning how money flows in the space....it gives ideas of where interest is going but i still try to do my own research and only invest what i am comfortable with so i will nnot later experience stories that touches the heart... truly!! whale tracking can be a good signal but it should not replace your own plan or risk management strategy.