A crypto whale is a large investor who owns a significant portion of the total supply of cryptocurrencies and has the ability to influence the cryptocurrency market through trading actions. Since the identity of crypto whales is anonymous, they are tracked through their cryptocurrency wallets. The cryptocurrency ecosystem can be likened to an ocean with small fish as ordinary investors (wallet addresses with little or moderate crypto value) and whales as large investors (wallet addresses with enormous crypto value).
Depending on the cryptocurrency, there are several indicators that can be considered a “crypto whale.” Whales are often referred to as investors, institutions, and cryptocurrency wallet addresses that hold more than 1,000 Bitcoins. Crypto whales are typically wealthy individuals or institutions that own large amounts of cryptocurrency and move it from one address to another.
The top 10, top 50, and top 100 Bitcoin holders collectively own approximately 5.69%, 11.04%, and 13.92% of all Bitcoin in circulation as of November 2022, respectively. These addresses hold a significant amount of the total Bitcoin in circulation and have an impact on the Bitcoin price and community.
