Ethereum

Value

Bitcoin

when

James

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-question-the-value-of-tracking-crypto-whales/" data-wpel-link="internal">Analysts Question the Value of Tracking Crypto Whales</a> 
Especially to predict possible fluctuations in altcoin prices, whale movements are frequently monitored. This yields much better results in low-liquidity altcoins. There are many platforms that track and report whales. But is this really useful? Glassnode’s Chief Analyst made some important statements on this topic. 
<h2 style="text-align: justify" id="crypto-whales">Crypto Whales</h2> 
Wallets with assets above a certain amount are defined as whales in the crypto <a href="https://newslinker.co/category/science/space/" target="_blank" rel="noopener" data-wpel-link="exclude">space</a>. These <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> have much more cash and crypto assets, which can cause movements in prices. For example, when a popular whale buys an obscure altcoin, many more individual investors show interest in that altcoin, and its price increases further. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-362897 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/ITB_historical_concentration_undefined_2024-06-16T09_12_32.341Z.png" alt="" width="1200" height="800"> 
Tracking the assets in the reserves of crypto whales is also something individual investors frequently do. For example, the altcoins held most by the top 500 <a href="https://en.coin-turk.com/hong-kongs-ethereum-etfs-achieve-trading-records/" data-wpel-link="internal">Ethereum</a> whales or the stablecoins they use more intensively are important. These whales are usually early adopters of crypto, companies, and individuals who are wealthy and have delved into crypto. 
<h2 style="text-align: justify" id="crypto-whales-are-insignificant">Crypto Whales Are Insignificant</h2> 
Glassnode’s chief analyst James Check, also known by his pseudonym “Checkmatey,” made some evaluations about crypto whales yesterday. Warning investors, James argues that tracking them does not provide any benefit. 
<blockquote> 
 “Don’t track whales, kids; this is not useful information. I have never seen real special information or a correct investment option obtained from whale watching even once. It’s good for talking on social media but almost never a serious or valuable analysis.” 
</blockquote> 
TXMC, the host of the Alpha Beta Soup channel, also issued a similar warning. He emphasized that crypto whale metrics can be misleading. 
<blockquote> 
 “The mechanical gradual decline here talks about wallet management, and you are seeing only a part of a larger picture. These whales are sometimes firms and institutions with multiple wallets and hundreds/thousands of clients. In my honest opinion, it’s cheap interaction bait.” 
</blockquote> 
On May 15, crypto analysis firm CryptoQuant reported that whale demand on the Bitcoin front had started to accelerate again after a two-month downtrend. 
<blockquote> 
 “Bitcoin demand growth seems to be stabilizing after lingering in a slowing trend since March.” 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-question-the-value-of-tracking-crypto-whales/" data-wpel-link="internal">Analysts Question the Value of Tracking Crypto Whales</a></h5>

Analysts Question the Value of Tracking Crypto Whales

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