Introduction and methods

Whales are an important part of the blockchain network ecosystems. Usually, a crypto whale is defined as a wallet address that holds a significant amount of cryptocurrency. And.. why are the whales so important? The main reason is because the community and investors watch them as a users with a significantly influence in price movements.

In this dashboard, we are gonna identify active wallets with a high balance of ETH usually calles as "Whales". The idea is to visualize the ETH transaction history of these whales in May and June 2022.

First of all, we need to define a whale in order to carry out the analysis. The inclusion criteria for the analysis have been those wallets that currently hold more than 1000 ETH on their wallets. As well, because we are looking for active wallets, we have stablished another criteria for this, taking into account only those wallets that have been active during the past 3 months.

Results

Considering the criteria stablished and previously explained on the Methodology section, a total of 1755 whales have been active during the past 3 months.

Looking at the daily transactions they have been doing from May to June 2022, we can see at the right side of above that it oscillates between 10k and 24k daily transactions. Over that period, the number of daily transactions were stabilized between this range.

In this two final charts, we can see at the left side the daily spent fees by whales and the average transaction fee over May and June 2022. On the right side, it can be seen the daily ETH transactions done by these whales and the total ETH moved from May to June 2022.

Regarding the first chart, we can see how despite some peaks, the amount of daily ETH fees seems to be stablished between 10 and 40 ETH. However, there are some peaks when the fees jumped to more than 100 ETH like May 1st, or days post UST depegging. It seems that the amount of fees paid and the average transaction fees are correlated and then, the situation have been similar for this metric.

Considering the right chart, we can see how the daily ETH transactions went from 8.5k to 15k. It seems to stay stabilized at this range. The ETH moved were more variable over these months and the daily numbers ranged from 55 to almost 1k ETH, which are so different values.

Conclusions and key insights

This dashboard shows the current number of active whales stablished as users who have more than 1000 ETH on their wallets and have been active over the apst 3 months. It has been calculated the daily transactions, the daily ETH transactions, the spent fees and average fees paid per transactions, as well as the daily ETH moved. All of these metrics have been calculated over the May and June months of 2022.

The main insights extracted have been the following:

• A total of 1760 whales have been active during the past 3 months.

• The daily transactions over May and June oscillated between 10k and 24k.

• The amount of daily ETH fees seems to be stablished between 10 and 40 ETH. However, there are some peaks when the fees jumped to more than 100 ETH like May 1st, or days post UST depegging.

• There is a correlation between the ETH fees and the average fee per transaction.

• The daily ETH transactions went from 8.5k to 15k.

• The ETH moved were variable over these months and the daily numbers ranged from 55 to almost 1k ETH.

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