Big “whales” buys enormous volume of crypto from disappointed retail investors

ICO News

New market statistics leaves no doubt that Binance CEO Changpeng Zhao when he warned cryptocurrencies holders be cautious in their instincts to follow the overall mood at the market and sell their coins with high discounts trying to figure out “less loss.” New data from Diar company proves the idea that now we see a situation when big “whales” (investors who concentrated enormous volume of cryptocurrencies) proceeds in their accumulating strategy. As a result Grayscale company now controls 203,000 BTC that accounts for 1% of total free float of Bitcoins.

Ethereum buy-outs is also on the rise: for last 11 months the total possession of ETH of top-500 holders skyrocketed by 80% that was propped by the decline of ETH by 90% from its all-time-high. This downfall didn’t deter big “whales” from an idea to accumulate more ETH in their digital wallets pouring new liquidity to the market, perhaps in the kind of banks loans.

At last, there were huge movement of Litecoins during 30 November – 1 December when Litecoins worth $1,1 billion has changed hands. This led to the situation when 60% of all Litecoin owned by one wallet. Phillip Nunn argues that when we see such movements that this doesn’t 100% mean that there are some Winklevoss twins-like investors with big faith in cryptocurrencies. The analyst says, “Do not show a weak hand. Whales and institutions are simply flushing you out. People centralising the decentralised.”

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