How Crypto Whales Impacted Big Eyes Coin ($31.71M Presale!), Bitcoin and Ethereum This Week
They say that when whales make big movements, they also create massive waves. The recent rise in crypto prices is proof of this.
The soaring crypto trading prices and volumes impressed investors and traders. Bitcoin, Ethereum and Big Eyes Coin have seen their numbers skyrocket, spurring their respective users to invest further. At the same time, it aroused curiosity in the market, wondering what the whales have been up to.
But what are whales in the crypto industry?
Cryptocurrency whales, or crypto whales, are individuals or entities that own large amounts of cryptocurrencies. Due to the size of the holdings of crypto whales, they can intentionally or unintentionally influence price trends – as seen in this week’s trading volume. They are usually coin holders with at least 1000 BTC (equivalent to $10 million) or more.
Supply distribution of crypto (Bitcoin).
According to NewsBTC, fish-themed ideas have long been associated with the cryptocurrency sector, derived from traditional trading, where market participants are evaluated according to their successes, skills and expertise. As such, when the crypto was at its peak, a complete ranking chart was created of Bitcoin holders and those holding other cryptocurrencies in Bitcoin equivalents.
The encryption system is as follows:
Shrimp: <1 BTC
Crab: 1-10 BTC
Octopus: 10-50 BTC
Fish: 50-100 BTC
Dolphin: 100-500 BTC
Shark: 500-1000 BTC
Whale: 1000-5000 BTC
Humpback: >5000 BTC
What had the whales been up to?
Despite the ongoing US banking crisis, Bitcoin (BTC), as of this week, hit a nine-month high of $26,500, while Ethereum (ETH) peaked at $1,778.
The overall crypto rally can be attributed to a number of factors, including significant spot-driven buying pressure and a fall in the value of the US dollar. Elaborating on the latter factor, crypto behavioral analysis platform Santiment suggested that the massive transfers were caused by whales’ concerns about the safety of stablecoin USD Coin (USDC). It had recently disclosed a $3 billion exposure to the now-defunct Silicon Valley Bank.
Bitcoin (BTC) Price Data
According to CoinMarketCap, the live Bitcoin price on Friday was $25,793.09, with a trading volume of $37.54 billion and a market capitalization of $498.31 billion. BTC has shot up double digits by 30.70% in the last seven days.
Ethereum (ETH) Price Data
The live Ethereum price on Friday was $1,705.38, with a trading volume of $9.86 billion and a market cap of $208.69 billion. With this, ETH rose 21.84% in the last seven days. This data is taken from CoinMarketCap.
The global cryptocurrency market capitalization on Friday was $1.16 trillion, according to CoinGecko.
Big Eyes Coin offers limited time ‘300’ vault pin
Big Eyes Coin (BIG) is an irresistibly cute feline meme token known for its community-owned decentralized finance (DeFi) ecosystem.
Now in its 12th phase, BIG is giving its community chances to earn extra tokens through the limited-time “300” vault pin! Token holders receive 300% more loot boxes than the previous vault pin, which already gave 5000% ROI! When they spend more than $100 on $BIG tokens or loot boxes, they get triple the loot.
This week, BIG has raised $31,712,998.23 before the official launch.
Learn more about BIG’s ‘300’ limited time Vault Pin offer below:
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Sponsored
WARNING: The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested may be lost
IMPORTANT NOTICE: La investment en criptoactivos no está regulada, puede no ser adequada para inversores retailistas y perderse la total del importe invertido
