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On this page
  • Why Monitor Wallet Activity?
  • How to Set Up a Wallet Event Trigger
  • Filtering Wallet Activity
  • Use Case Examples
  1. Automate
  2. Trigger Set Up

Wallet event-based

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Last updated 4 months ago

The Wallet Event Trigger is a powerful tool that allows users to monitor real-time activity on a specific wallet address across a chosen blockchain. Whether tracking native cryptocurrency transfers, token-specific transactions, or all activity associated with a wallet, this trigger provides a seamless way to stay informed and react automatically.

Why Monitor Wallet Activity?

Monitoring wallet activity is essential for a variety of use cases, including:

  • Transaction Tracking: Stay updated on all incoming and outgoing transfers, ensuring complete visibility of wallet transactions.

  • Security Monitoring: Detect suspicious activity, such as unauthorized transactions or unusual wallet behavior, and act swiftly.

  • Operational Oversight: Automate workflows based on wallet activity, such as rebalancing funds, topping up balances, or triggering alerts for specific events.

  • Analytics and Reporting: Collect detailed transaction data for compliance, reporting, or strategic decision-making.

How to Set Up a Wallet Event Trigger

  1. Choose the Wallet: Enter the wallet address you wish to monitor. This could be your own operational wallet, a partner’s wallet, or even a publicly-known wallet for analysis.

  2. Select the Blockchain: Pick the blockchain network where the wallet resides, such as Ethereum, Binance Smart Chain, or Polygon.

  3. Define the Activity Category:

    1. Native Currency Activity: Focus on transactions involving the chain’s native cryptocurrency (e.g., ETH on Ethereum, MATIC on Polygon).

    2. Token Activity: Monitor transactions involving ERC-20 or other tokens interacting with the wallet.

    3. All Activity: Capture all wallet interactions, including smart contract executions, transfers, and other blockchain events.

Filtering Wallet Activity

Once the trigger is set, users can fine-tune the workflow by applying filters to narrow down the specific activity of interest. The following parameters are available for filtering:

  • Category of Event: Distinguish between transfers, contract executions, or other blockchain-specific activities.

  • Value: Set thresholds to monitor only transactions above or below a certain amount. For example, track token transfers exceeding $10,000.

  • Contract: Filter events associated with specific smart contracts interacting with the wallet.

  • Sender/Receiver: Focus on transactions sent from or received by particular wallet addresses.

  • Hash: Include or exclude specific transactions using their unique transaction hash.

  • Block Number: Narrow activity to specific blocks for detailed analysis.

Use Case Examples

  1. Operational Wallet Management: Monitor your operational wallet for low balance thresholds. When the balance drops below a preset value, trigger an automated workflow to top it up using a pre-connected source wallet.

  2. Security Alerts: Set up alerts for any unauthorized token transfer from your wallet. Filter by sender/receiver addresses to exclude known trusted interactions.

  3. Analytics and Compliance: Record all activity from a high-profile wallet for regulatory compliance or to gain market insights. Use filters to track only significant transactions or interactions with specific contracts.

  4. Market Monitoring: Monitor large inflows or outflows of tokens in high-profile wallets to detect market movements and act proactively.