What do Whales indicate in Cryptocurrency
What do Whales mean in cryptocurrency?
When people see a huge drop in prices of cryptocurrency coins, people sometimes blame Crypto Whales that are dumping their coins on the market. In the cryptocurrency world, the Whale means, the individual or a group who has a large amount of some specific cryptocurrency/ies. They are also known as Bitcoin Whales, Ethereum Whales, Ripple Whales depends on what they had in their hand in the large amount. They can change the price of that cryptocurrency they are holding anytime by dumping it to the market. They can manipulate the prices whenever they want.
To read how the price of a cryptocurrency decided please visit here.
Generally, these are those people who bought crypto in early states like at ICO, Pre-ICO or at lower rates and get too many of them. When the price goes up they sold their coins and earn the profit.
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