A crypto whale is a person who has made a significant amount of money in the cryptocurrency market. Which side of the coin are they on? Let's find out what's going on.

People from various walks of life may be found in the crypto market. Everyone with a stake in the crypto market, from those who have never invested to those who have amassed multi-billion dollar portfolios, has various goals and outlooks. 

When people have large amounts of cryptocurrency, they become known as crypto whales.

What does the phrase "crypto whale" mean? What makes someone a crypto whale, and is it good or bad news for the market to have them around?

What is a "crypto whale" when it comes to cryptocurrency?

A crypto-whale is a person, a group of people, or an organization with enormous cryptocurrency holdings. 

Cryptocurrency isn't all that's involved here. Rather, crypto whales have money in the millions and billions of dollars. 

The big players are considered whales and everyone else as tiny fish when it comes to cryptocurrency. 

Others may manipulate the market with the enormous cash they amass by holding onto their cryptocurrencies in the hopes that the value will rise.

A select few people own altcoins 

But several of the world's largest cryptocurrency investors have earned millions or billions of dollars via Bitcoin. 

Whales in the Bitcoin community are referred to as such. 

The Winklevoss twins, Michael Saylor, and Satoshi Nakamoto, the founder of Bitcoin, are all examples of Bitcoin whales.

Approximately a thousand of these "whales" control 40 percent of all Bitcoin in circulation, which means they have enormous quantities in their possession. 

To be considered a "whale," you must possess at least 1,000 Bitcoins.

However, this amount pales compared to some whales' enormous Bitcoin holdings.

For example, the Winklevoss twins are thought to be the owners of roughly 70,000 Bitcoin. 

Currently, this equates to about $3 billion. Bitcoin whales are an exclusive club of just around 2,000 people globally, making it difficult to describe.

In a way, crypto whales might be considered the "elite" of the market. The question is, do they constitute an issue for the average Bitcoin owner?

How Dangerous Are Crypto Whales?

What a crypto whale does with its money determines whether or not they are a threat. 

A whale that manipulates the market entirely for its profit might be very harmful, but it can also be helpful.

Ethereum crypto whales continued to buy more tokens of the Shiba Inu (or SHIB) meme coin in the autumn of 2021. 

Whales acquired 4 billion SHIB in December of the same year for $130 million, making it the largest single purchase. 

SHIB recently plummeted in price, making it more accessible to Ethereum whales, although no one knows why they bought it.

If you're looking to sell your stock and earn money, this was great news for everyone who had Shiba Inu as an investment.

Unfortunately, the value of Shiba Inu immediately started to decline after this boom in popularity. 

Individuals may have bought more SHIB in December because they thought the price rise would continue. 

As a result, whale-caused turbulence may be difficult.

Nothing can be done to stop whales from swiftly impacting the price of any cryptocurrency at the time. 

This will have an effect on the market price whether the person wants it to or not if they wish to purchase or sell a large number of tokens.

In the Cryptocurrency Market, Whales Can Make or Break the Business

There is no halting a price fluctuation if one or more crypto whales make the same large move on a certain cryptocurrency. 

The regular crypto owner's position in the market may be greatly enhanced or completely damaged by these all-powerful investors, whether they're selling or purchasing. 

I hope they keep our best interests in mind when they decide to take their next step!