WHAT ARE CRYPTO WHALES?
The market has not been kind, especially after the dump the pi network has poured on us. I think it was a fluke, or maybe the whales had too many tokens to sell. Either way, the market trends look horrible and the accounts of people are in red and the markets are upside down.
This leads us to the point of the post. Who are the crypto Whales?
Unlike traditional whales who hold large volumes of crypto, virtual whales don't need massive capital to cause change to trends.
How do whales manipulate the market then?
*Spreading news and hype across to hype a coin with the intention of manipulation later.
*High frequency Trading: Using bots to create artificial volume, whereby there will be lots of programmed buying and selling to change the course of a market trend.
*Leverage positions: These are instances where large amounts of crypto are spooned with little amount of money, that was initially used as liquidity.
These virtual whales create illusions and misguide people to do their bidding. They give hints and make you chase, make you give your all, and cheat on you. (This sounding a bit familiar😂).
Anyway, they cause FOMO and panic among retail traders and investors. The results, markets that benefit them and not you. You could describe them.
So the next time, you see a massive dump or pump. Is this a whale or its just an optical illusion?
#VIRTUALWhales #GenZCryptoVoice