Crypto Glossary

Posted on September 13, 2021 in
Glossary

Whale

The whales, in essence, refer to people or companies that hold large amounts of cryptocurrency. You might wonder how large it is. Well, large enough to pretty much flip the value of one currency upside down. They are so influential that they can increase the volatility of the market, decrease its liquidity, or even both.

Whales: The Big Fish in The Cryptocurrency Ocean

Whales: The Big Fish in The Cryptocurrency Ocean

Thanks to the tremendous rise in the value of Bitcoins, the cryptocurrency market has gained a ton of traction from investors and fortune seekers alike over the past year. As many may already know, the risks you take when investing in cryptocurrency are high but the returns on investments could also be astronomical. That’s how it goes in the market.

Today, in various cryptocurrency discussion forums, we can see a lot of buzz around the people who traders refer to as “Whales”. Why are they being compared to these majestic sea creatures? Well, it might not be that hard to guess.

Whales’ effect on the market

Whales are so huge that when they move around in the ocean, they can cause waves that could disrupt the movement of other smaller sea creatures. In a similar vein, the “Bitcoin Whales” can also make or break your cryptocurrency portfolio just by how they behave in the market.

The whales, in essence, refer to people or companies that hold large amounts of cryptocurrency (mainly bitcoins). You might wonder how large it is. Well, large enough to pretty much flip the value of one currency upside down. They are so influential that they can increase the volatility of the market, decrease its liquidity, or even both.

Popular whales

Satoshi, the founder of bitcoin, and Tyler and Cameron Winklevoss are some of the very notable bitcoin whales. In early 2021, data from BitInfoCharts shows that three of the largest bitcoin holders owned more than 7% of all bitcoins in the world, valued at roughly around $75 billion. And if we take a look at the bigger picture, the top 100 bitcoin wallets held more than ⅓ of the world’s bitcoin – valued at over $340 billion.

Even if the whales try to sell their digital assets little by little to avoid people noticing, they can still cause significant disruptions to the market, often bringing the cryptocurrency prices up or down. 

If you’re looking to invest in cryptocurrency, you must keep an eye on your graphs. The market never sleeps and you can never be too careful

Related Articles

Bitcoin (BTC) Price Prediction 2022 – 2030 According To The Crypto Experts

August 08, 2022

Bitcoin (BTC) Price Prediction 2022 – 2030 According To The Crypto Experts

Bitcoin Bullish or Bearish Trending Now! Let’s see Bitcoin (BTC) price prediction from 2022 – 2030 before you invest.

Definitive Guide On How To Buy Bitcoin In Singapore

August 08, 2022

Definitive Guide On How To Buy Bitcoin In Singapore

Buying Bitcoin in Singapore is simpler than ever with a few steps. By the end of this guide, you will be able to buy Bitcoin with confidence.

What Is Crypto Fear And Greed Index? Should You Look At It Before Buying Crypto?

August 08, 2022

What Is Crypto Fear And Greed Index? Should You Look At It Before Buying Crypto?

Fear and Greed Index is used to measure investors’ sentiments in the crypto world. Learn more about it before your next purchase.

We offer investors a variety of opportunities in the digital assets industry. Our innovative platform provides access for anyone seeking investment returns anywhere, anytime. Our ecosystem aims at making finance an everyday enriching activity.

RISK WARNING ON DIGITAL PAYMENT TOKEN SERVICES

The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of Zipmex.

Before you pay Zipmex any money or DPT, you must be aware of the following.

  1. Zipmex is not currently licensed by MAS to provide DPT services. This means that you will not be able to recover all the money or DPTs you paid to Zipmex if Zipmex’s business fails.
  2. You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by Zipmex.
  3. You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
  4. You should be aware that Zipmex may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.
  5. DPT held in your Hosted Wallet is not subject to the Singapore Deposit Insurance Scheme (“SDIC”) or any similar insurance or guaranty scheme of any other jurisdiction. In addition, funds stored in your Fiat Wallet do not benefit from the SDIC or any similar insurance or guaranty scheme of any other jurisdiction.

ZipUp+ products have not been approved by the Monetary Authority of Singapore (“MAS”) under the Payment Services Act 2019 and MAS has not reviewed or approved any features of these product offerings. Please review this link for the full terms and conditions and risk disclosure.