Big whales and institutional investors are super into Bitcoin and VeChain
- Despite the crypto winter, data shows that institutional players have accumulated more digital assets
- VeChain would not mind providing carbon neutral consulting services to Qatar to help the nation host a carbon neutral event.
The broader crypto market may have plunged to a new low in recent days. Still, institutional players and whales are not giving up as they accumulate more digital assets as the crypto winter bites harder.
VeChain is seeing more whale activity
The native tokens of the leading enterprise blockchain protocol VeChain (VET) and VeChainThor Energy (VTHO) are winning out among big whales as the network continues its impressive show.
More importantly, the popularity of the carbon-neutral platform is growing amid the FIFA World Cup currently underway in Qatar. Football Mundial is the first football competition to be held in the Middle East.
“As the world’s leading enterprise-level blockchain platform, VeChain is a member of the Climate Chain Alliance (CCC) and offers carbon neutral consulting services, actively responds to carbon neutral policies and demonstrates responsibility for climate governance.” 🌱 pic.twitter.com/atbHCht1V1
— eisenreich (@eisenreich) 24 November 2022
More interesting about this is that VeChain’s green initiative serves as the foundation of the tournament, with the organizers committed to a completely carbon neutral event.
As a top-level enterprise blockchain and member of the Climate Chain Alliance (CCA), VeChain intends to offer its carbon neutral consulting services to Qatar during the ongoing FIFA World Cup.
Various data measurements show that Qatar will generate almost 3.6 million tonnes of carbon emissions before the football Mundial is over. However, Qatar also made every effort to reduce carbon emissions during the design and preparation of this event. For example, it will provide extensive recycling, composting and electric vehicles to absorb and offset CO2 emissions.
Therefore, it is no surprise that VET is among the most sought-after cryptoassets, favored by whales as the blockchain ecosystem continues to enjoy wider adoption. If VeChain’s performance continues, its native token (VET) will be among the most favorite tokens investors will start collecting between now and the new year.
Current data shows that VeChain gained 0.23 percent in the last 24 hours and is trading at $0.01868. Investors go all out for tokens with promising returns, and VET is an example of such a token.
Research shows that whales accumulate Bitcoin
According to a recent survey by Coinbase, institutional investors have increased their crypto allocations despite the bearish market trend. The US-based crypto exchange involved 140 institutional investors in its study between September and October. Coinbase added that the accumulated tokens represent $2.6 trillion of assets under management (AUM).
Furthermore, the survey showed that despite the bear trend at the end of October, the market value was still in the region of 1 trillion dollars. From the survey, 62 percent of participants focus on the long-term by investing in key crypto assets compared to last year. Only 12 percent of them reported a reduced allocation to digital asset investments.
Some highlights from our latest survey with @instinvest. See all the results and read the full report here: pic.twitter.com/AeQ3uttECH
— Coinbase Institutional (@CoinbaseInsto) 22 November 2022
Also, 58 percent of participants want to expand their crypto investment portfolios over the next three years. However, 6 percent revealed that they would reduce their exposure to cryptocurrency. The overall sentiment from the survey shows that despite the crypto winter, 72 percent of large-scale investors are convinced that digital assets are the future of money.
