You may have often heard of the term ‘crypto whale’. While reading crypto-related articles you may have read that a certain decision made by a particular crypto whale affected the market and all.
So what is this crypto whale? Is it a thing, concept, or a person? Let us find out more about crypto whales in this article.
What are Crypto Whales?
The term ‘crypto whale’ can be used to define an individual or more in the crypto realm. Let us look more into it.
It is crypt jargon. The crypto whales have huge power over this industry and any decisions they make or any stands they take can severely impact the whole industry.
If you have made a crypto investment, then you need to know who these giants are. The crypto whales are often connected with high volatility.
When you watch the videos or updates from the top crypto experts, you can listen to the mention of the crypto whales very often.
Just like how they keenly observe the price trends and market fluctuations, the activities of the crypto whales are also closely examined.
Know that, if you do not follow the activity of a crypto whale, and do not take timely actions, then you are bound to face huge losses in crypto.
Who are crypto whales?
Crypto whales can be individuals or they can be a group of people or entities who hold a massive amount of cryptocurrency.
Their hold on crypto can be through their investments, mining, or other methods which establish them as giant figures in the industry. Therefore, if they make any crypto movements, let it be even a minor one, it can make a huge difference in the industry.
If a crypto whale makes any one crypto transaction or moves their funds from one project to another it can heavily contribute to major price fluctuations.
Say that you have invested in the same crypto project as a crypto whale. And if the crypto whale moves their fan from this project, then the project may suffer a huge price drop.
Or, say a crypto whale made a huge investment to the project that you are already a part of. This can lead to a surge in prices.
Therefore, the key role that the crypto whales play in the pieces of crypto can not be denied. Observing the crypto whales has turned into its own niche termed ‘whale watching’.
How to identify crypto whales?
Do you know how to identify these crypto whales?
You already know that crypto is transparent and open, all hail to the blockchain technology. This makes it possible to identify the crypto whales through many different methods. First of all, you can observe the huge transactions in the blockchain.
However, you may not be able to easily identify them as they have all the necessary actions to stay anonymous and undisclosed.
Also, these crypto whales employ strategic methods so that their transfers stay discreet. Identifying a huge crypto transaction can throw light on the identity as well as their true holdings.
If you see any crypto trading pattern that has the potential to affect the prices of different cryptos several times, then there is a high chance that you are observing a crypto whale.
So, you can start by looking out for huge and irregular patterns in the industry.
Another way to identify crypto whales is to keep an eye out for large amounts of transactions.
If you see huge amounts of crypto being transferred from one account to another, then there are possibilities of a crypto whale involvement.
One of the comparatively easier ways is to continuously examine social media. If there are any top business profiles or individuals that keep constantly posting about crypto, then it can be the account of a crypto whale.
Whales are known to express their opinion about crypto through social media handles.
Here we have added the list of a few key crypto whales.
Let us look at who these crypto whales are who have the power to transform the crypto markets.
The Bottom Line
It may be an existing activity for you to try and find out a few crypto hales. Also, you can go through the social activities and the social media profiles of the crypto whales that we have already mentioned above.
If you are able to find any crypto whales, do not forget to let us know.
