I sense whales activities on Binance $BNB what do you think
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In the cryptocurrency market, **"whales"** refer to individuals, entities, or organizations that hold large amounts of a particular cryptocurrency. These large holders have significant influence over the market due to the sheer size of their holdings. Here's a breakdown of what whales mean in the crypto context:
Key Characteristics of Crypto Whale
1. **Large Holdings**:
- Whales typically own a substantial percentage of a cryptocurrency's total supply. For example, in Bitcoin, whales might hold thousands of BTC, while in smaller altcoins, they might control a significant portion of the circulating supply.
2. **Market Influence**:
- Whales can impact prices significantly by buying or selling large amounts of cryptocurrency. Their actions can cause price spikes or crashes, especially in less liquid markets.
3. **Visibility**:
- Whale activity is often tracked using blockchain analysis tools. Platforms like Etherscan (for Ethereum) or Bitcoin blockchain explorers allow users to monitor large transactions and wallet balances.