Whales In Crypto ...๐ง๐ค
In the world of cryptocurrency, "whales" refer to individuals or entities that hold exceptionally large amounts of a particular cryptocurrency. These whales can significantly impact the market by buying or selling large quantities of crypto, influencing prices and liquidity.
Key points about crypto whales:
Large Holdings:
Whales are defined by their significant holdings of cryptocurrency, often measured in thousands or millions of dollars worth of digital assets.
Market Influence:
Their buying and selling activities can cause price fluctuations and impact the overall market.
Close Monitoring:
Due to their potential to disrupt the market, whales' activities are closely watched by the crypto community and investors.
Examples:
Companies like MicroStrategy and Tesla, known for their substantial Bitcoin holdings, are considered influential whales.
Over-the-Counter (OTC) Trading:
Many large players, like investment groups, often buy and sell coins off-exchange through OTC trading to avoid overwhelming order books.
Governance Influence:
In Proof of Stake (PoS) blockchains, whales can influence on-chain governance decisions due to their voting power, based on their funds at stake.
