What we filter out
- Exchanges and their operational wallets.
- Market makers and liquidity pools.
- Internal transfers within a single entity.
- Technical noise — small and “test” transfers.
Methodology
How we tell significant wallets from noise
Synapse reveals the real architecture behind large holders and the market's key players. The platform tracks both large single transactions and coordinated collective maneuvers across a multi-chain space, focusing exclusively on liquid assets with high trading potential. It automatically builds a registry of priority addresses — insiders, market makers and project teams — filtering out market noise and surfacing only strategically relevant analytics.
The signals we surface
Team & treasury
team · treasury
Almost the entire wallet balance sits in one token. That is how a team, a treasury or early allocation recipients hold — not a trader with a diversified book. What happens to the token next does not follow from the concentration itself.
≈70% in one token
See examples →
Treasuries (Safe)
safe inflow
A large token inflow to a team treasury (Gnosis Safe / multisig). A project or DAO position consolidates under a multisig — what happens next does not follow from the inflow itself.
▲ inflow
See examples →
Safe withdrawal
safe withdrawal
Tokens are withdrawn from a team treasury (Safe / multisig) to external wallets — the position leaves the multisig. What happens next does not follow from the transfer.
See examples →Fresh-wallet clusters
fresh cluster
Several fresh wallets receive their first funding from a single source almost simultaneously — a linked cluster, not independent addresses. Accumulation, OTC, distribution or holding may follow — the transfers alone do not show which.
See examples →CEX withdrawal
exchange withdrawal
Tokens leave an exchange for external wallets — an outflow from the order book. Often this is self-custody or an allocation distributed via the exchange. What recipients do next does not follow from the transfer.
See examples →CEX deposit
exchange deposit
A token is moved onto an exchange from a team or fresh wallet — an inflow to the order book. This often looks like preparation to sell, but the deposit alone does not confirm it: what happens next does not follow from the transfer.
See examples →Binance Alpha
early allocation · pre-listing
Token movement tied to Binance Alpha — the early-allocation and pre-listing venue. An early allocation from a well-known program enters on-chain circulation. What happens to the token next does not follow from the allocation move itself.
See examples →Distribution
distribution · multisend
One sender distributes a token to several addresses in comparable portions (multisend). This is the fact of a distribution from a single wallet — to whom exactly and why, the transfers do not reveal.
See examples →Claim
claim · airdrop
Many addresses claim their share of a token from a distributor contract at almost the same time — an airdrop claim. Each recipient pulls their own share and pays the gas (pull), whereas a distribution is pushed to addresses by a single wallet (push).
See examples →Team sells
team sale · DEX
One or several team wallets are selling tokens on a DEX. The bar on the event page shows how much of the starting position the team has not sold yet.
See examples →DEX buys
accumulation · DEX
Smart and team wallets are accumulating a token on a DEX — add-ons from a single wallet, coordinated buys or a large whale buy. The bar shows how much of the target size is already accumulated. This is the fact of accumulation — intent does not follow from it.
Open in DEX Visor →Stablecoin funding
stablecoin funding · buyback
A team or fresh wallet receives a large stablecoin top-up (USDT/USDC) — a frequent sign of preparing to buy a token back (“fueling up for a buyback”). The transfer records an inflow of funds; whether a buyback follows does not follow from it.
See examples →Coordinated transfers
coordinated
The same token moves in a coordinated way from several senders within one window — a structural sign of concerted activity. Who and why does not follow from the transfers.
See examples →Large transfer
large transfer
A single large token transfer between wallets for a big amount. A neutral signal — direction and intent do not follow from it.
See examples →Stablecoin depeg
stablecoin depeg
A stablecoin pegged to $1 drops noticeably below the level — a peg break. Whether it recovers does not follow from the deviation itself.
See examples →Listing
listing · perp
A perp on the token appears on a futures exchange for the first time (Binance / MEXC / Gate / Bybit / OKX). A new listing is often accompanied by a spike in liquidity and volatility. Where the price goes does not follow from the listing itself.
See in the digest →A single action can match several signals at once — for example, a withdrawal from an exchange to several fresh wallets is both “CEX withdrawal” and “Fresh cluster”. In the catalog a wallet is colored by its primary (most specific) signal, and the rest are shown as extra labels beside it.
DEX Visor — trades on the chart
A live DEX terminal: a feed of smart- and team-wallet buys and team sells drives a movable wall of charts. Every trade is a GMGN-style bubble right above the candle: size by volume, color by side. Hover to see the wallet, amount and a link to the transaction.
We read the flow of trades, not just price
The feed shows only two flows — DEX buys and sells, with no exchange or service noise. Clicking an event opens its chart on the wall; each chart can be expanded, torn off into its own window and time-synced with the rest. The wallet strip under the chart lets you toggle any wallet's trades on and off with the “eyes” — to isolate a single player.
DEX buys
Team sells
buy
sell
ring size ∝ trade volume
Open DEX Visor →
HyperLiquid signals
We read the moves of large wallets on HyperLiquid straight in the derivatives book: position building and unwinding, clusters, fresh capital and liquidation risk — in real time.
Signals
Positions
Long/Short
Liq. risk
Wallets
Whale on HyperLiquid
whale · perp
A wallet builds or unwinds a large position: the combined size of one wallet's parallel TWAP orders on a coin is ≥ $1M, or a single large market fill. This is off-chain derivatives positioning, not a token transfer.
Open radar →Small-cap cluster
small-cap · coordinated
A coordinated entry into a thin HyperLiquid market (market cap < $100M) totaling under $1M: several parallel TWAP orders or accumulation from fresh money. Early interest where even a modest size stands out.
Open radar →Fresh on HyperLiquid
fresh capital
A fresh wallet funds HyperLiquid for the first time — a large first USDC deposit via the Arbitrum bridge. A new player with a clean history; what they do next does not follow from the deposit itself.
Open radar →Liquidation & risk
liquidation · risk
A large position is at risk of forced closure or has already been liquidated. “% to liquidation” is how far price has left to move against the position before a margin call; we compute it ourselves from the mark price and the liquidation price the exchange publishes. A notional threshold keeps small ones out of the feed.
Open radar →How to read the signal types
In the HyperLiquid feed, signals are filtered by the nature of the action. One entry usually matches several types at once:
TWAP
An order split into equal tranches over time (time-weighted). Building or unwinding in small pieces so as not to move the price.
Grid
A ladder of limit orders across several prices — accumulation within a range.
Flip
A position reversal on a coin: from long to short or vice versa — a change in the direction of the bet.
Large
A single large market fill or an explicit opening / scaling of a position in one move.
Liquid.
A position liquidation or a warning of imminent liquidation — the position is under price pressure.
Why we trust the labeling
A wallet enters the catalog not because of one large amount, but when its movements add up to a clear structure. To tell a real team from technical rotation, we look at the wallet's behavior over time and at where the funds came from. An event only counts when the picture holds together.