What is a crypto whale? Why big holders can move crypto prices
By SendPay Business · · 2 min read
A crypto whale is a person or organisation that holds a very large amount of a particular coin or token. Because they hold so much, a single large buy or sell by a whale can move the price, especially in smaller or less liquid markets.
Who the whales are
Whales can be early buyers, investment funds, companies that hold crypto on their balance sheet, and exchanges holding coins for their customers. There is no fixed cut-off, but the term usually means holders large enough to affect the market.
How whales can move prices
- A whale places a very large sell order on an exchange.
- It uses up the buy orders in the order book at several price levels.
- The price falls as the sale fills at lower and lower prices.
- Other traders may react, making the move bigger.
Tracking whale wallets
Most public blockchains show every wallet balance and transfer, so anyone can see when large amounts move. Services and social accounts post alerts when big transfers happen, although a transfer between a whale's own wallets does not always mean a sale.
Where SendPay fits
A SendPay platform lets your customers buy, sell and hold crypto next to their cash. Assets are held with regulated partners and you set the trading fee. SendPay does not give investment advice, and crypto prices can fall as well as rise.
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This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. PayPal, Patreon and Substack are named as reference points only and are not affiliated with SendPay Business.