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'm not a huge trader myself but it is something that interests me. I trade when I can and I also am very picky with trades. I'm successful with my strategy but I know that day trading isn't for me, so I buy when there are amazing news and I sell when I already managed to get a good profit from my investment, I'm not a hardcore trader but I keep some part of my coins in a cold wallet.
By the way, how safe is that strategy to use on-chain analytics platforms to track whales activities? Whales know that we do that, right? So what if they make a bait for us?