Whale Accumulation

Whale accumulation is the term used to describe the huge amount of cryptocurrencies bought or gathered by a wallet. However, this huge whale buying gives out different signals to the Digital asset market.

For instance, a Whale accumulates $100 million worth of XYZ tokens in the last 24 hours. This means that a whale entity bought $100 million worth of XYZ tokens and this gives out many different signals to the crypto market. This can mean that a whale thinks or believes that a certain token price can shoot up in the future over some announcement.

What are Crypto whales?

The cryptocurrency world is full of different kinds of traders and investors. Among these participants, there is a community of individuals who own or have enough funds to buy large amounts of digital assets. This community, particularly in the business world is known as the whale.

However, getting the whale status in the crypto ecosystem depends on different factors. As per the community, a wallet holding a huge number of tokens or coins makes it a whale. Meanwhile, any individual wallet owning or holding over 10% of the total number of any crypto makes it a whale.

Can whale accumulation impact crypto market?

Whale wallets hold a huge amount of digital assets or they hold a huge amount of funds with the potential to move the market. A whale buying any specific token can shoot its price up in a short period. However, whales can also manipulate the market with their move.

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About author
Disclaimer

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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