What are crypto whales? Most cryptocurrencies have a number of large holders of the asset who can affect the value of the crypto asset. For energetic buyers and crypto traders, it helps to grasp the market behaviors of those whales. Crypto whales refer to large holders of cryptocurrencies. They are often people or organizations who typically own more than 10% of crypto. As an example, MicroStrategy owns nearly 130,000 Bitcoin (BTC) and can move the value of BTC by their market participation. Due to this fact, tracking the action of crypto whales provides timely insights into the price movement of a crypto asset. This isn't only a crypto phenomenon. In traditional markets, when a big player like Warren Buffett, a model or a hedge fund reveals that they've taken a place in a selected asset, the value of the asset rallies or vice-versa. That said, when these players promote an asset, the market typically follows. With cryptocurrencies and nonfungible tokens (N...
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