RATE Group | Bitcoin Could Benefit From Crypto ‘Whale’ Extinction: Report
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Bitcoin Could Benefit From Crypto ‘Whale’ Extinction: Report

08 Nov Bitcoin Could Benefit From Crypto ‘Whale’ Extinction: Report

Posted at 08:16h in Cryptocurrency News by

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In a recent interview conducted by crypto trading platform SFOX, Whale Alert co-founder Frank Weert said that the effect of so-called crypto “whales”, or individual entities who control large amounts of cryptocurrency, can still have a profound effect on the price of cryptocurrency at this particular moment in time, more than 10 years after Bitcoin was invented.

Indeed, Whale Alert was created specifically to track the movements of cryptocurrency whales and report them to the cryptocurrency community as a whole; a whale transaction, by Whale Alert’s definition, is any market movement of more than $50 million in assets at one time.

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Weert said that he was “very confident that whale transactions can have a really profound effect on price in the market,” and…

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