Cryptocurrency-hunting whales are large investors or individuals or institutions that hold significant amounts of cryptocurrencies, typically seeking to benefit from market movements through large buy and sell transactions. They often significantly influence the price of the currency due to the size of their investments.
🔸️Characteristics of cryptocurrency-hunting whales:
- They hold hundreds of thousands or millions of specific coins.
- They may use strategies such as high-frequency trading or accumulating coins to achieve large profits.
- They can significantly affect market prices, especially if they decide to buy or sell large amounts at one moment.
🔸️Examples:
- It is known that some wallets or accounts associated with institutions or anonymous individuals hold large stakes, especially in Bitcoin and Ethereum.
- Some whales can be identified by tracking the activity of public wallets on blockchain networks, where observers can recognize who holds large quantities and their interactions in the market.
