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TL;DR
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Whales hold such a large portion of a cryptocurrency that if they decide to buy or sell enough at once they can create price movement.
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And right now, it looks like they’re toying with Bitcoin – pumping the price in hopes it will trigger a wide spread buying frenzy and push BTC to $40k.
Full Story
Serious Question:
Did a 12-year-old come up with crypto terminology???
Who decided on ‘gas fees’ or ‘mooning.’
Better yet – here’s a new one for you:
Whale Games.
Yup. Whale Games.
Here’s what it means, and why it’s currently in the news.
Whales are traders with a bunch of cash invested in one asset.
(To be fair, the name actually has some logic to it).
But, as of recently, the crypto trading world has been warned of ‘whale games’.
See, whales hold such a large portion of a cryptocurrency that if they decide to buy or sell enough at once they can create price movement.
Or another way of putting it: they own so much crypto, they can play games with the market.
And right now, it looks like they’re toying with Bitcoin – pumping the price in hopes it will trigger a wide spread buying frenzy and push BTC to $40k.
(Hoooray!)
At which point, the whales will sell and dump the price.
(Boooooo!)
We take back what we said at the top, ‘Whale Games’ is a very fitting description.
