In the realm of digital assets, what is the meaning of the term 'whale'?

3 answers

• Mar 19, 2022 · 3 years ago
  In the world of digital assets, a 'whale' refers to an individual or entity that holds a significant amount of a particular cryptocurrency. These whales have the power to influence the market due to their large holdings. They can buy or sell large amounts of a cryptocurrency, causing significant price movements. Whales are often seen as market movers and their actions are closely monitored by traders and investors.
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• Mar 19, 2022 · 3 years ago
  So, imagine you're swimming in the vast ocean of digital assets. Suddenly, you encounter a massive creature known as a 'whale'. In the world of cryptocurrencies, a whale is someone who holds a substantial amount of a particular coin or token. These whales can make waves in the market with their buying or selling activities. Their actions can cause prices to surge or plummet, making them a force to be reckoned with in the digital asset realm.
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• Mar 19, 2022 · 3 years ago
  BYDFi, a leading digital asset exchange, defines a 'whale' as an individual or entity that possesses a significant amount of a specific cryptocurrency. These whales have the ability to impact the market due to their substantial holdings. Their buying or selling activities can create substantial price fluctuations, leading to opportunities for other traders. It's important to keep an eye on the movements of these whales as they can provide valuable insights into market trends.
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