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- Insights
- Cryptocurrencies
- Stocks
- White Papers
- Industry
- Geography
Crypto whales play a significant role within the crypto space as their movements can severely affect the value of a cryptocurrency. Whales are individuals or institutions with a substantial amount of a specific cryptocurrency. Buying or selling crypto can dip or increase in value based on the prevailing market circumstances. After the SEC filed lawsuits against two major cryptocurrency exchanges, Binance and Coinbase, the market has been going through a downturn. But did that stop Crypto whales from making their move? Let's find out.
A leading analytics firm says that Bitcoin (BTC) whales are in heavy accumulation mode despite the crypto king's weak price action over the last few months. The sentiment says that Bitcoin whales have added nearly $26 million in BTC daily since April 9, when the crypto king traded almost $28,000.
Approximately 4,000,379,151,023 (4T) SHIB, valued at $31,763,010 ($31.76M), were recently transferred. The Whale Alert account on Twitter also confirmed the transaction, indicating that multiple sources are in consensus about the significance of this move.
The impact of this move causes the circulating supply of Shiba Inu tokens to increase by 1%, and according to Shibburn.com data, the current circulating supply now stands at 578,963,967,112,597 (578.96 trillion) as of June 12, 2023.
Large institutional investors are at the forefront of the ongoing XRP price rally. Indicatively, as total XRP network transaction volume rose, the Whale activity increased simultaneously.
Ethereum [ETH] whales have increased their appetite despite the prevailing uncertainty in the market. One of these whale wallets withdrew nearly 39,300 ETH in a series of transactions over the last month from the world's largest crypto trading platform Binance.
