The whales are the ones that can ultimately end up influencing the direction of the market for better or worse. One of the main characteristics of crypto whales or whales is that they concentrate a great deal of power in the digital asset market. Whales have various ways of acting and can sometimes end up manipulating the market to their advantage. One strategy may be to start selling at a lower price than the market, causing small investors to panic and sell. The whales wait for a new low at which point they start buying.

Into the following dashboard we are gonna analyze the top 5 pools on Sushiswap in order to know how are distributed and if more than of 90% of liquidity are made up by whales.

There is no a standard metric to know if someone is a whale or not. We need to put a strategy or some norm to take someone as a whale or not. For me, a whale can be determined by % of their liqudity into the pool, as well as their rank into the top investors. Why? Because of a lot of people try to mymic the strategy of big whales, and their consider a big whale the top of investors (usually top 10). Then, we will consider the top 10 users inside each pool if they own a minimum % of it.

Finally, it is to say that pools are analyzed twice, for Ethereum and Polygon, if their exist in both platforms.

Analyzing global results:

• More whales appear in Ethereum than Polygon network.
• % distribution between whales is more divided in Polygon than Ethereum.
• All top 10 investors by pool own more than 0.5% of the total distribution.

Specific Ethereum results (in which every pool have the major volume):

• DAI/WETH, SUSHI-WETH and WBTC-WETH liquidity pools where more than 90% of the liquidity is made up by whales taking into account criteria defined before.

We need to take into account that the returns of these pools compare to the returns of the other pools are different. On the one case, the returns are in more long term where could influence the strategy of the investor. If someone needs more time or returns are more saver, could make a investor do a high fund. For this reason, coul appear more whales.