How to Track Altcoin Whales: SOL, ETH & XRP Moves You Should Know

“Do altcoin whales move the markets as much as Bitcoin whales?”

It’s a question traders rarely ask, but the data says yes. In 2025, Solana, Ethereum, and XRP have each seen billion-dollar whale transactions that shifted liquidity across exchanges. For example, a single Solana wallet recently unstaked over 1.3 million SOL — worth $221 million — and moved $63 million onto exchanges, sparking volatility in the token’s price. These kinds of events often unfold before retail traders even notice a chart change. In this article, we’ll break down recent whale moves in SOL, ETH, and XRP, explain why they matter, and show you how to track these wallets with on-chain tools and alerts.

Why Altcoin Whale Moves Matter

Altcoin markets operate on thinner liquidity compared to Bitcoin. This means that a single whale transaction can shift prices by several percentage points in hours, while the same action in Bitcoin might barely move the chart. Unlike BTC, which is widely distributed and heavily traded, coins like Solana (SOL), Ethereum (ETH), and XRP often have concentrated holdings where the top 100 wallets control a disproportionate share of supply.

Similar patterns are visible in Bitcoin’s past, as detailed in our Whale Dumps History article, where concentrated sell-offs repeatedly triggered major price shocks.

For traders, this concentration magnifies the impact of whale activity: an unstaking of SOL, a sudden ETH transfer from a whale wallet to Binance, or a dormant XRP address becoming active can all act as early signals of volatility. These moves are not random — whales often anticipate regulatory news, token unlocks, or liquidity shifts, and position themselves ahead of retail traders.

In short, tracking altcoin whales is less about curiosity and more about survival in markets where a few wallets can define the short-term direction.

Why altcoin whales matter more: compared to Bitcoin’s widely distributed supply, altcoins have higher wallet concentration and volatility, making whale moves more disruptive.

Recent SOL Whale Events

Solana has been one of the busiest networks for whale activity in 2025, with transactions that rival mid-cap exchange volumes. Three events in particular highlight how fast-moving wallets can unsettle the market:

1. September 2025 — Binance Withdrawals Worth $22.5M

On September 10, a whale withdrew 101,824 SOL (≈$22.5M) from Binance and distributed it across four new wallets within five hours. Large withdrawals often signal accumulation or OTC transfers, and in this case, SOL’s intraday price gained momentum shortly after the movement.

2. April 2025 — Unlock Creates Sell Pressure

Following a scheduled unlock, a whale received 379,700 SOL (~$44.5M at $116/SOL) and quickly shifted part of it to exchanges. Unlock-based whale transfers have historically triggered volatility in Solana, as traders anticipate increased supply and front-run potential sell-offs.

3. August 2025 — Whale Takes a Loss

Not every whale move results in profit. In August, one address withdrew 139,532 SOL (~$19.5M), only to redeposit almost the same amount back to Binance at a loss. This rare misstep underlines an important lesson: whales aren’t infallible, and retail traders can sometimes avoid panic-selling by waiting for confirmation instead of reacting instantly.

Together, these cases show why watching Solana’s top wallets provides context beyond price charts. Exchange inflows, outflows, and unlock-linked transfers can reveal whether whales are accumulating, distributing, or simply repositioning capital.

Recent ETH Whale Events

Ethereum, with its high smart-contract activity and DeFi ecosystems, often sees whale moves tied to gas fees, staking actions, and major platform events. These four recent examples illustrate how ETH whales are behaving — and what traders should watch.

1. July 2025 — ETH Withdrawal Ahead of Network Upgrade

On July 2, 2025, a whale wallet transferred 50,000 ETH (~$90 million) from a major exchange to a cold wallet. This came just ahead of the Dencun upgrade and fee proposal discussions. Movement like this signals that large holders anticipate higher gas fees or network congestion and prefer to reduce exposure on exchanges.

2. May 2025 — ETH Staking Withdrawals Spike

After the transition to proof-of-stake was solidified, Ethereum’s staking withdrawals rose sharply in May. Whales unstaked roughly 120,000 ETH (~$216 million) over multiple wallets, diverting parts into exchanges. Traders should note that when staking exit curves steepen, it can create short-term liquidity pressure, especially during periods of weak demand.

3. August 2025 — ETH Sent to Decentralized Exchanges (DEXes)

Mid-August saw 30,000 ETH (~$60 million) moved from a whale wallet into several DEX smart contracts. These transfers aren’t always sell signals — often for yield farming, liquidity provision, or arbitrage. But when coupled with increasing exchange inflows, they can forecast where the pressure might shift.

4. September 2025 — ETH Large Wallet Accumulation on Low Volume

On September 12, a wallet known for large holdings quietly accumulated 25,000 ETH (~$50 million) over several small inbound transfers. ETH price was relatively flat during that period, and volume was low, suggesting accumulation rather than panic. This type of stealthy accumulation often precedes larger moves once macro or regulatory news catalyzes movement.

Trader Insights from ETH Whale Moves

• Large withdrawals from exchanges → possible accumulation or hedging; watch whether they are moving to cold storage or to DEX/OTC.

• Spikes in staking withdrawals combined with low market demand often precede dips in price.

• Transfers into DEXes are sometimes early warning signs of protocol arbitrage or liquidity harvesting, not always dump signals — context matters.

• Quiet accumulation on low volume can be more meaningful than loud sell-offs; it suggests confidence among big holders.

Tools & Metrics to Track Whale Moves

Tracking altcoin whales doesn’t require guesswork — the data is already public on blockchains and exchanges. The challenge is knowing where to look and how to interpret the numbers. Here are the most effective tools and metrics traders can use today:

1. Blockchain Explorers

• Solscan (for SOL) and Etherscan (for ETH) list the largest wallet addresses, their transfers, and contract interactions in real time. Watching sudden inflows to exchanges, or dormant wallets becoming active, often signals an upcoming move.

• Example: a Solscan alert flagged the 101,824 SOL ($22.5M) Binance withdrawal within hours of the transfer.

2. Whale Alert & Lookonchain (Social Alerts)

• Whale Alert posts large crypto transfers on X (Twitter), while Lookonchain offers detailed analysis of whale strategies.

• These alerts aren’t just noise — when combined with volume spikes, they can foreshadow volatility.

3. On-Chain Analytics Platforms

• Glassnode, CryptoQuant, and Santiment provide dashboards for whale wallet balances, exchange inflows/outflows, and staking withdrawals.

• Traders often watch the exchange inflow/outflow ratio: heavy inflows suggest potential sell pressure, while large outflows usually mean accumulation into cold storage.

4. Unlock & Vesting Trackers

• Sites like TokenUnlocks and CryptoRank track vesting schedules. Since whales frequently hold early allocations, watching these calendars can prepare traders for increased sell pressure.

• Example: the April 2025 Solana unlock of 379,700 SOL ($44.5M) was publicly visible weeks in advance.

5. Custom Alerts & Bots

• Traders can set up custom alerts on explorers (e.g., Etherscan’s “watch address”) or bots in Telegram/Discord that flag large transactions.

• This is especially useful for XRP and other tokens where whales move funds without exchange deposits immediately.

Key Takeaway

Using these tools together builds a real-time radar:

• Explorers show the raw transaction.

• Social alerts amplify the signal.

• Analytics platforms provide context.

• Unlock calendars warn of future events.

The more aligned these signals are, the stronger the case for whale-driven market shifts.

Trader Signals to Watch

Not every whale transfer is meaningful. The difference between noise and a market-moving event comes down to a few repeatable patterns that traders can apply across altcoins.

1. Consistent Inflows vs. One-Off Transfers

A single large transfer might be routine portfolio management. But when whales send multiple tranches into exchanges over several days, it’s a stronger sign of upcoming sell pressure.

2. Ratio of Transfer Size to Daily Liquidity

Rather than fixating on the dollar value, compare the transfer to the token’s daily trading volume. If a transfer equals 10–20% of daily liquidity, it has real market-moving potential.

3. Wallet Behavior Context

Whales often have identifiable behavior: some addresses accumulate, others distribute. Traders should monitor patterns over time rather than reacting to one sudden move.

4. Coordination Across Wallets

Whale activity becomes significant when several unrelated large wallets act in the same direction (e.g., multiple withdrawals or inflows within hours). That clustering effect is often a truer signal than a single wallet’s move.

5. Timing with External Events

Regulatory announcements, unlock schedules, and protocol upgrades often coincide with whale movements. If a large transfer happens alongside such events, the probability of price impact increases.

Risks & Caveats

While whale tracking offers traders an edge, it’s not a crystal ball. There are important caveats to remember before drawing conclusions from every large wallet movement:

1. Not All Transfers Signal Trading

Whales move tokens for reasons other than selling — portfolio reshuffling, custodial changes, or shifting funds to multi-sig wallets. A big transfer doesn’t always equal market impact.

2. Lack of Context Creates False Alarms

A transaction worth millions might look dramatic, but without knowing if it’s an exchange cold-wallet shuffle or a genuine inflow, traders risk overreacting. Context from multiple sources is essential.

3. Market Absorption Can Dampen Impact

Even large transfers sometimes fail to move prices if liquidity is deep or if derivatives markets are already pricing in the event. Whales don’t operate in isolation — broader sentiment matters.

4. Short-Term Noise vs. Long-Term Trends

Whale activity can spark intraday volatility, but it rarely changes the fundamental trajectory of a strong trend. Traders who mistake noise for a trend reversal may exit positions too early.

5. Over-Reliance on Whales = Tunnel Vision

Treat whale tracking as one tool in a broader strategy. Ignoring macro factors like regulation, ETF flows, or interest rates can leave traders blindsided even if they’re tracking wallets closely.

Conclusion

Altcoin whales don’t just trade; they shape liquidity and sentiment in ways that smaller investors can’t ignore. From sudden exchange inflows to coordinated wallet moves, these signals often appear before price shifts show up on the charts. For traders, the key is not chasing every alert but learning to filter meaningful whale behavior from routine transactions.

By combining on-chain tools, liquidity analysis, and context from major events, you can turn whale tracking into a practical edge rather than speculation. As our Bitcoin Whale Guide 2025 shows, history proves that following the biggest players helps decode where markets might be headed next.