On-chain Metrics 1 min read
Whale
Also known as: Large Holder, Mega Wallet
An address holding enough of an asset to move the market when it transacts.
Rough thresholds (BTC)
| Wallet size | Label |
|---|---|
| ≥ 10,000 BTC | Mega-whale (exchanges, countries, Satoshi-era) |
| 1,000 — 10,000 | Whale |
| 100 — 1,000 | Shark |
| 10 — 100 | Fish |
| < 10 | Retail |
What to watch
- Net position change of the top cohort.
- Transfers to exchanges from known whale wallets (pre-sell signal).
- New wallets accumulating — often smart money front-running narratives.
Most on-chain platforms label whale wallets. Always verify: a single whale can be an exchange cold wallet (no real «opinion» signal).