The third part of all the coins, Ethereum is in the wallets of all 376 whales. This information is provided cryptanalytic company Chainalysis as of may 1, 2019. However, this is much less than was recorded in 2016 and 2017.
The study also revealed that in fact the said whales do not have a “significant effect on the price of tokens”. Moreover, it increases intraday volatility in the stock market, making large sales.
Kryptonite Chainalysis considers 500 largest hontarov cryptocurrency, among which are not taken into account services that keep stocks on the exchanges. During the study it was found out that in the daily activity involved only 7 percent of the money whales.
See also: Let’s see: who are the cryptocurrency whales and how they affect the market?
However, about 60 percent of all the major players cannot be called active traders. That is, they simply keep their savings and not lead them on the crypto currency exchange. It turns out that their wallets are permanently stored 25-40 percent of the total working capital proposals esters.
Experts from Chainalysis also able to identify a correlation between the price of ETH and BTC. In particular, the increase in the price of Bitcoin on 1% entails a rise in ETH 1.1 percent. However, this study failed to calculate a statistically significant impact of Bitcoin prices on the intraday fluctuations ETH.
Additional research has shown that the movement of whales amounts to the exchange and back only provoke volatility, but does not affect the price in the long run.
What do you think about this? You think that whales are able to influence the stock market and manipulate it for personal benefit? Or is it nothing more than an attempt to explain the unexpected turns in the niche? In cryptodata of hontarov can freely Express their thoughts, look.
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