Investors & whales have more information & leverage than you do. You can make a lot of money by following them.
In this article, we’re diving into finding & tracking wallets using block explorers. We’ll be covering:
- Using Etherscan for wallet watching
- Using DeBank
- NFT wallet tracking
Let’s get into it
Let’s use Etherscan.
Go to https://etherscan.io/tokens. You’ll see all the ERC tokens here.
This is the page for HEX. There’s a bunch of useful info here for research.
Go to the holders section.
By default, Etherscan sorts it from largest to smallest. This tells you a lot:
- If all the tokens are concentrated with a few accounts, it could be a bad sign, because if they sell price will tank.
- If a large % of tokens are sitting in exchanges, could mean that holders are only there for the short term
Your goal is to find wallets who got in big positions early.
You can filter through based size of holdings
You can also look through the transfer history to do this.
Sort by Last. You essentially want to look through the first few weeks & look for accounts that made big plays early.
You can do this for ANY token. Just go to https://www.coingecko.com/ and search up the token. Here’s a random token that I found. LYNK just launched about 8 days ago & is up 26% today.
Grab the contract address.
Search it up in the relevant block explorer and you can start your wallet hunt.
Let’s use LYNK to demonstrate wallet finding & tracking.
I sorted by oldest transaction and went from there. The goal was to find an address that took a big position early on
This trade caught my interest. This account bought 60k LYNK tokens 4 days after launch. I wanted to investigate more.
You can copy their address & paste in the block explorer. It will pull up their transaction history, their account balance & what they’ve invested in.
This is their Erc20 transfer history. Looks like they’re used to buying large portions of unknown coins.
I want to know if they’ve a history of success to determine if they’re worth watching. This is the hardest part. You can look through their Etherscan data to get some insight.
Looking at their trading history, we can tell that they’ve been buying large portions of unknown coins.
Analyzing successful wallets is a great way to learn. You can gauge how they allocate, what they look for & how they ape. It’s a great way to become a better investor.
For more organized analytics, use DeBank. It gives you a breakdown of their holdings.
Examining this, their profile not what I am looking for.
No problem, let’s repeat the steps until we find someone.
I repeated the steps above and found a new address.
Turns out it’s pretty good. This account is the #757 ranked account on DeBank.
Once you find an account you want to keep track of, you can follow them on Debank & periodically look through their transactions on a block explorer.
You can do the exact same for NFTs. Go to https://etherscan.io/nfttracker or search up your NFT. Search through transactions & holders.
You can look through their NFTs & portfolio on DeBank
With that, you have a solid approach for finding & tracking wallets. This can be replicated across chains using different block explorers.
Be VERY careful. Scammers use these tools as well. They airdrop NFTs & tokens to top wallets in order to deceive people like us. Wallet tracking is just one part of your research process. Couple it with proper due diligence.
Here’s what I look for when evaluating projects:
This is one way to find & track wallets. In the coming days, I’ll be posting more ways to track wallets. Follow to stay updated.
I post alpha & guides on my Twitter (@Cov_Duk), follow me there to stay updated.
