What is the role of a 'whale' in the crypto market?

1 answers

• Deepak Singh MaharaJul 17, 2024 · a year ago
  Whales are major players in the cryptocurrency market. These individuals or entities hold a significant amount of a particular cryptocurrency, giving them the power to influence market trends. When a whale buys or sells a large amount of a cryptocurrency, it can cause significant price movements and impact market sentiment. Whales often employ various strategies to maximize their profits. They may use their large holdings to manipulate the market by creating artificial demand or supply. This can lead to price manipulation and volatility. Whales can also engage in pump and dump schemes, where they artificially inflate the price of a cryptocurrency and then sell it at a profit. It's important for traders to be aware of whale activities and adapt their strategies accordingly to navigate the market effectively.
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