Crypto whales refer to individuals or entities that own a large amount of a particular cryptocurrency. These individuals or entities are able to significantly influence the market by buying or selling large amounts of a cryptocurrency at once. Because of the large amounts of cryptocurrency they own, their buying or selling can cause the market price of that cryptocurrency to change dramatically.
Crypto whales are also known to use their large positions to manipulate the market for their own gain. For example, they may artificially inflate the price of a cryptocurrency by buying a large amount of it, and then sell it at a higher price to unsuspecting investors. This practice is known as “pump and dump” and is considered unethical and illegal in traditional financial markets.
It is important to note that owning a large amount of cryptocurrency doesn’t necessarily mean that the person is engaging in manipulative practices. Some crypto whales are simply long-term investors who believe in the long-term potential of the cryptocurrency they are holding.
