To define the types of users and the different currents that move day by day in the world of cryptocurrencies, several scales have become popular, in which most resort to different animals to pigeonhole the numerous investor profiles.

Whales are wallets that hold significant amounts of tokens of an specific cryptocurrency. While there is no specific number of cryptocurrencies that someone must own to be considered a whale, simply by being a high value, they are already considered players to be reckoned with in the market because they have far greater power than a traditional individual investor.

So, just as it happens in the stock market with shares, or with any traded good, cryptocurrencies also vary their prices based on supply and demand. The same thing happens with cryptocurrencies, when investors are interested in buying, demand increases, and therefore prices rise. But the opposite can also happen, supply increases, i.e. people are looking to sell and everyone will offer a cheaper and cheaper price in order to sell their cryptos as soon as possible. Thus the price would fall until no one is willing to sell below a certain price. Whales, having such high capital, have the potential to manipulate currency valuations in these respects. In short, whales are like other majority asset holders: their moves have an outsized impact on the market, either by increasing volatility, decreasing liquidity, or a combination of both.

In this dashboard, we will analyze what going on with Sushiswap whales. Are they depositing liquidity or removing it? First, let's define a Sushiswap whale...

Being 1.2B approximately the total liquidity in Sushiswap, for me a Sushsiwap whale is currently any wallet that moves more than 10M in both cases, adding or removing liquidity. Then, to do this task, I selected those users who have moves more than 1% of the total Sushiswap liquidity in a single day (more than 10M). Taking this into account, let's see the movements during the past two month of the Sushiswap whales. To see it, I have plotted the number of whales both providing and withdrawing liquidity in Sushiswap over the past 2 months, as well as, the relationship between number of providers versus number of withdrawers.

As we can see, the number of whales that are removing liquidity from Sushiswap is higher than whales providing liquidity in the major of the days. However, in January 8th, a total of 6 whales provided liquidity while any whale withdraw liquidity.

If we take a look at the relationship chart, we can see that there is some weak positive correlation between providers and removers. Despite some dispersed points, the rest of them seems indicate that one some whale remove liquidity, some other provide it as well.

Finally, take a look at global numbers. Howe many moving whales have been done during the past 2 months? How many of them were deposits and how many were withdrawals?

A total of 148 unique movements made by whales have been registered during the past 2 months. Among them, 49 where deposits and 99 withdrawals. Then, the ratio of deposits was 0.331 while the ratio of withdrawals was 0.669.

To conclude, we can say that so many whale movements have been detected during the past 2 months. There have been more than twice as many withdrawals (67%) as deposits (33%).