Whales are simply crypto wallets or individuals that own mass amounts of coins in one or more places, generally in the value range of around $50 million+.
By watching what the whales of the industry do to preserve and increase their holdings, it’s not difficult to see what strategies are in play, and what can be done to preserve or increase your holdings in relation to the current market.
Over the past 3 days, several crystal clear trends have appeared among the whales of the crypto industry. Here’s what to take note of.
Mass flows north of $1 billion dollars together in cryptocurrencies have left Binance exchange to untraceable private wallets or to coinbase.
Exchanges are seeing a massive increase in stablecoin holdings, while most alt coins are being frequently swapped in favour of BTC, ETH, and ADA.
Many whales have just taken and are still taking mass profits, suggesting they are prepared for the market to dip further.
While some whales have returned their funds to fiat and exited the market, the majority are waiting on the sidelines to buy back in at the right time.
Experienced whale watchers speculate that large amounts of the unknown wallets – where coins are being channelled to – are hard wallets or cold storage; offline.