A whalemap ensures that there is more equality in the crypto market. In fact, whales can cause problems in the crypto market. In this blog, I will cover what whales are and what problems they bring to the crypto market. The whalemap is intended to give more room for smaller players on the cryptomarket.
What are whales?
Before we get to the question of what a whale map is, we need to discuss what a whale is in the crypto market. A whale refers to a major player in the crypto market. This does not have to be a person, but it can also be a fund, such as a mutual fund. These players hold a large amount of cryptocurrency.
Because these whales have such large amounts of crypto, the price of crypto can be affected. Currently, the whales are in the bitcoin market. But whales are also present in altcoins (like Algorand, Polygon Matic etc.). Whales are often accused of operating in the crypto market with speculative intentions. That basically means that these players deliberately sell a lot of crypto in a short period of time. This can cause a sudden drop in prices. As the price drops by many percent, these players can buy back the same crypto at a much lower price. In this way, whales can influence the market.
So why are these players called whales? The moment a whale sells large amounts of crypto, the price will drop sharply. When a whale jumps into the air, it creates a hole in the water. This is the hole the whale jumped out of. Then the whale fills up this hole again. This same concept exist in the crypto market. If the price has fallen (because the whale has sold large amounts), the whales take this opportunity to buy even more crypto, so that the whale owns even more crypto. Then the price rises again, sometimes to record highs. At this point the whales sell a lot of crypto again, causing the price to plummet again.
This brings all kinds of negative consequences. In this way the whales can strengthen their position in the crypto market.
Bitcoin whale list
What is a whalemap?
As mentioned above, whales can cause big problems in the crypto market. They can steer and influence the entire market by selling large amounts of crypto in a short period of time and then repurchasing it. Many crypto investors are not happy with such whales. And there is something to be said for that. Whalemap wants to do something about this. The goal of whalemap is equality and fairness in the crypto market. Whalemap gives crypto traders and investors access to information previously only available to whales for a price. Whalemap displays real-time information about a particular crypto.
Through whalemap you can see what decisions whales are making. In this way, the playing field becomes more level. Everyone now has the same information (i.e. smaller players can now find out what whales are going to do and when). Smaller players can now anticipate better.
Whalemap not only provides data and information to users. This data is very useful because smaller players also have certain information that is actually only reserved for the larger players. However, this data and information needs to be converted into a user-friendly platform. This data is very complex to understand. Especially for a beginner. A more experienced professional can read some data much faster. They can then react more quickly than a beginner. Whalemap actually ensures that the complex information is converted into simple language. This allows even the smaller players to understand the information. According to whalemap, this creates more equality and fairness in the crypto market.
The information provided by whalemap can lead an investor or trader to make certain decisions. They can better prepare for what may come in the future. Importantly, whalemap information does not say what the market will do (everyone would like to know that). Whalemap merely provides information on what the market might do. Knowing for sure what the market will do is impossible.
The biggest well-known bitcoin whales
- Satoshi Nakamoto
Satoshi Nakamoto invented bitcoin. Satoshi Nakamoto also wrote the bitcoin white paper. No one knows who it actually is. Over the years there have been many rumors of who Satoshi might be. Whoever Satoshi is, Satoshi owns about 1.1 million bitcoin.
- Cameron and Tyler Winklevoss
Cameron and Tyler Winklevoss invested in bitcoin early on. These brothers own about 100,000 bitcoin. This makes them one of the largest bitcoin whales in the world. They can influence the bitcoin market by selling large amounts of bitcoin.
- Nayib Bukele, the president of El Salvador
According to official data, El Salvador's treasury holds a total of approximately 1,120 bitcoins.
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