How to investigate a Wallet

Establish identity and data quality

Start with the address, chain, entity label and risk verdict. Labels can come from known entities, durable on-chain relations or observed behavior. A market-maker label requires a proven relation to a known MM entity; behavioral stats may enrich the proof but do not replace it. Treat unlabeled as unknown, not suspicious.

Separate holdings from movement

Holdings is a current on-chain balance snapshot where supported. Flow Path explains movement between the wallet and exchanges, DEX trades and other wallets. A large balance without recent movement is different from a smaller address repeatedly routing funds. Use the allocation view for exposure and the path lanes for behavior.

• Exchanges Deposits and withdrawals involving tracked CEX entities.
• DEX trades Resolved on-chain buys and sells.
• Other wallets Counterparty transfers outside resolved venues.

Read behavior over time

The activity tabs and sized-transfer views show the evidence behind labels such as accumulating, distributing, routing, trading both ways, quiet or flash-loan operator. The daily behavior timeline matters: one outflow does not make an accumulator, while repeated same-direction moves across days build a stronger pattern. Venue contracts are read as money moving through them, not as ordinary owners.

Verify counterparties and market context

The network graph maps significant counterparties and their direction. Use it to find sources, sinks, pass-through relations and exchange endpoints. Narratives and detector signals show whether the wallet participates in a broader market story; they do not prove the wallet caused the move. A strong thesis should agree across route, timing, asset exposure and repeated behavior.