New whales Are Entering The GIFX Market

New whales Are Entering The GIFX Market

Editor: Süperadmin
30 Nisan 2021 - 00:44
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The coins chart-image of the market conceptual representation of crypto whales. / GIFX

GIFA Token whales have accelerated the accumulation of the golden token over the last few weeks amid price volatility. According to the latest data share with the media and obtained by satoshiz.org, a blockchain news outlet, several new wallet addresses have been added and older addresses registering new more figures, an estimated 30,000 GIFA Token acquired since 25 March. 

Definition of Whales

The term 'whale' refers to an investor with deep pockets who can move the market by buying or selling in large volumes. Given the relatively modest market caps of crypto assets compared to other sectors, the movements of crypto whales can provide important price signals to alert investors. 

The terminology 'whale' comes from the traditional financial markets and refers to a trader with a significant amount of capital. Due to the large size of a whale trader's position, whale traders can influence markets to move in either direction when they make large buy or sell orders.

Using the whale analogy, it can be useful to imagine the crypto market as an ocean. Small fish have little influence on the current and to survive they must swim in the same direction as the current. A whale can cause volatile stormy seas that wipe out the small fish.

GIFA Token Whales

According to the data obtained from the exchange highlights that there are new whales entered the GIFX market in the last few months, creating a new base of competitive buyers and investors who seek to acquire the golden token as faster as they could, thus exposing the duel behaviors of old and new whales amid the GIFA Token correction.

There few whales' addresses each holding 20,000+ GIFX and their intents indicate they continue to accumulate even more as the token's value increase. The price action over the past week has created competitive clusters of whale addresses leaping for profit. 

It's an incorrect assumption to say the crypto whales don’t influence the crypto market, their capitals and influences got the potentials to control prices at will.

The new sign-ups demonstrate that whales are like in the competition each individual accumulating in large amounts particularly after GIFA Token’s price breaks $500 and remain all-time high. The total value of the recently accumulated and total tokens sold stands at around $119,007,411.

The Northern Cyprus-based cryptocurrency exchange saw a huge gain in April as the price of GIFX touched $512.41 on 13 April before dropped to a low to $356.91, where it currently stands today, as of writing.

Furthermore, whale addresses are moving the corporate’s digital currency in large volume from leading digital exchanges to crypto wallets. Recently, Whale Alert reported the movement of 2,000 Bitcoin from cryptocurrency exchange Coinbase to crypto wallet Xapo. The total value of the mentioned transaction stands at around $110 million.

Do Crypto Whales Dictate Prices?

  • Yes! Any transaction can able to create a ripple effect that can swing the influence of a cryptocurrency’s price.

The impact of whales can be felt especially in the altcoin market, imagine an investor purchasing $3 million worth of the token, the market will move substantially if such holder decides to sell part of his portfolio, or if a large buyer comes in. It's important to understand the principles of wealth distribution in the blockchain ecosystem.

Did you know that the largest wallet holds over 168,791 Bitcoins? To put it in perspective, that’s worth over $10,645,817,161 as of April 14, 2021. Another dormant Bitcoin address has over 80,000 BTC, worth over $750 million. Crypto whales’ are some of the most critical players in the crypto market. A crypto whale is an investor with significant capital. They can move substantially more numbers than individual traders, for these entities are usually institutional investors.

It is a commonly held belief that crypto whales control the price of Bitcoin and other cryptocurrencies. While this is true to an extent, but the truth is somewhat more complex. However, it is always worth keeping an eye on these players because they can provide valuable insight into the future of crypto. 

Why Should You Care About Crypto Whales?

Savvy investors understand why it’s best to keep an eye on whales. Firstly, they shed light on promising investment opportunities. Additionally, their holdings and decisions can play crucial roles in deciding any cryptocurrency’s supply and demand dynamics.

Crypto whales accumulated their capital via effective investment decisions. They’re excellent references for any trader interested in becoming a better investor. Since they’re more likely to spot profitable investments, their movements can be significant signals for traders. So, keep your eyes wide open to see where these wealthy businessmen and key players going, pumping in their heavy capitals.  

Individual traders need to aim to jump into trends while they’re “fresh” since that means heftier profits. Crypto whales’ cash flows and movements offer excellent insight, which you can use to adapt your strategies for better results and built a strong foundation of wealthiness.

Influences

Additionally, crypto whales have a noticeable influence on the GIFX market, which is a new and faster-growing opportunity. Most traders believe whales control prices because their capital allows them to inflate and deflate investment assets as they wish. Many traders keep their eyes on crypto whales because they perceive them as price shifters. 

The whales’ capital; grows any cryptocurrency’s demand, real price shifts, and value propositions come from. There is optimism within the GIFX community as the market expanding, creating a cascading effect of friendlier competitions between the newbie whales and the veteran whales.

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