The term for today is “WHALE”
Bitcoin’s price dropped nearly $200 in less than 30 minutes on Tuesday and many suspected a WHALE was behind this sharp fall.
A WHALE in the crypto world is someone or a single wallet/account holding a huge amount, hundreds and thousands, of Bitcoins.
The sale of a significant amount of Bitcoins by a WHALE can cause the price of the top cryptocurrency to fall due to excessive supply. Such a sale is sometimes called a “whale dump.”
An example of a WHALE is Nobuaki Kobayashi, the trustee overseeing the bankruptcy of the now defunct Mt. Gox crypto exchange. The Tokyo-based attorney keeps selling significant amount of Bitcoins that was amassed after the Mt. Gox collapse from time to time.
It was largely suspected that sales of more than 35,000 Bitcoins and over 34,000 Bitcoin Cash made by this account between December 2017 and February 2018 was among the main reasons behind the fall in the price of cryptocurrencies during that time.
As on March 5, 2018, the Mt. Gox bankruptcy estate was in possession of 168,177.35927254 Bitcoins.
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by Jyotsna V