On-chain flow

Whale trade

A single trade large enough in notional value to move or signal the market.

A whale trade is an order whose notional value crosses a large threshold, big enough that it can move price or reveal how large players are positioning. Sóng surfaces whale trades in real time by filtering the public trade feed for orders above a notional cut-off. A cluster on one side hints at conviction, not certainty.

Educational content, not financial advice.