Can you become a cryptocurrency whale????
To be considered a cryptocurrency whale, a person or entity must own a large amount of cryptocurrency. The exact amount depends on the cryptocurrency, its price, supply, and market capitalization.
Examples of cryptocurrency whales
In Bitcoin $BTC , a whale is considered to be someone who owns at least 1,000 BTC.
In Ethereum $ETH , a whale is considered to be someone who owns 5,000 ETH.
Characteristics of cryptocurrency whales
Whales can be individuals, consortia of investors, hedge funds, or corporate treasuries.
Their operations can influence the currency market.
They are closely monitored by other shareholders.
Impact of whales on the market
Whales can cause extreme volatility.
They can manipulate sudden market movements.
They can influence or manipulate the valuations of currencies.
