Hey brother, once again nice article, I really enjoy your posts. DeBank I discovered a few months ago myself and it is indeed a great resource!

I agree that checking the public holdings of wealthy individuals and funds like Grayscale, etc is worth checking to say up to date with public sentiment. It is only one piece of the puzzle, but still a valuable one. A few other things to keep in mind, too:

-Whales almost always have multiple wallets for both privacy and security reasons. I am a whale myself and I have at least 16 wallets if I recall, maybe 20. Most larger whales probably have more than me.

-Many whales keep a lot of their holdings private with a 3rd party custodian, and the public wallets that you see are actually just their (much smaller) hot wallets. So often what we are seeing are actually their much smaller and more speculative investments that they need more instant access to, in case they need to buy or sell quickly. Some whales also just take 1-2% and throw it in a hot wallet to do pure degen gambling too.

-Grayscale and other funds that manage others' money, may not always have the most optimal investments, as it is a much more complicated process to dump current assets (or add new ones), even if they no longer believe in them. For example, they own a large amount of Ethereum Classic, which has been a compete disaster and total failure with no future in sight. They also have much more pressure to not lose money rather than maximize gains.

-many whales only hold huge amounts of certain coins because they are actually involved with developing the project, were given a bunch for free for an endorsement, or are a silent investor behind the scenes.

-Almost all experienced and corporate whales hold BTC and ETH, and it is usually a significant percentage of their portfolio. This new wave of brand new, inexperienced investors that hold 0% BTC or ETH are taking enormous risk.

And a quick related note: By the time many big companies have announced their support for a project, assume that they have already completed buying as much as they want for the forseeable future, not that a big purchase is forthcoming.

But yes, what others invest in is and always will be an important metric! Thank you for the article! Always do your homework thoroughly folks! :)

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