Crypto whales are exiting
Crypto whales are running away.
This is the first time ever to see whales are not buying back during the bear market.
What happens and who are those whales?
I asked ChatGPT about whales and here is what it said:
Crypto whales are individuals or organizations that hold a significant amount of cryptocurrency. They are called “whales” because their large holdings can have a significant impact on the market, similar to how a whale can affect the ocean. Some crypto whales are early adopters of a particular cryptocurrency, while others are professional investors who have made a significant investment in the asset. Because they hold such a large amount of a particular cryptocurrency, crypto whales have the potential to influence the price of that asset through their buying and selling activity.
Here are my personal experiences with whales.
There are three primary sources of whales: criminals, institutional investors, and individual investors.
Criminals
Yes, although they were early adopters, those people used crypto mainly to laundry money and keep their wealth within crypto to avoid possible tracking from governments.
Hackers who steal money from others are part of this category.
