From what I've seen on the forums and a few analytics sites, whale data usually gives us hints about market sentiment. When big holders move coins to exchanges, it can signal potential selling pressure, but it's not always a guarantee—sometimes it's just for custody or other purposes. I'd suggest checking on-chain metrics like exchange inflow/outflow and the top holder concentration, but always cross-reference with official data since some tools can be laggy or inaccurate. Remember, this is just my take from discussing with other members here—don't take it as financial advice.

Whale data is interesting but tricky. I remember a discussion where someone pointed out that large transactions might just be OTC trades or internal wallet reorganizations. On CoinMeta, we've talked about how following whales blindly can be risky because they have different strategies than retail investors. My advice is to use platforms like CoinMarketCap or Messari for verified on-chain stats, but don't rely solely on them. Always do your own research and keep in mind that market moves are influenced by many factors. Just my two cents from hanging out in the community.