☠️ [Analysis] The not-so-killer whales of Bitcoin – Chainalysis
There are four main types of whales:
- Traders: nine wallets control over 332,000 coins and they actively trade with exchanges
- Miners/early adopters: 15 investors hold 332,000 but trading activity is extremely low. Many of them made significant divestments in 2016 and 2017 during price hikes
- Lost: five wallets hold over 212,000 coins but have no activity as users lost their keys
- Criminals: three wallets control over 125,000 coins and are connected with Silk Road or money laundering
During the major price declines of December 2017 and most of 2018, trading whales were actually net purchasers of bitcoin. This indicates that trading whales were, in aggregate, were a stabilizing, rather than destabilizing factor in the market.
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