Research: Bitcoin whales make the cryptocurrency market less volatile

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Fears that Bitcoin BTC whales could dump enormous amounts of coins crash the market might be absolutely groundless – or so does new research suggest.

Researchers from Chainalysis examined the transaction history of the 32 largest Bitcoin wallets and concluded that – contrary to popular belief – big-time cryptocurrency whales play a crucial role in keeping the market stable.

More than one type of whale

Chainalysis identified four types of whales: Traders, miners and early adopters, wallets with lost private keys, and criminals.

Miners and early adopters have been hodling their cryptocurrency of late; their trading activity is extremely low. Chainalysis estimates this group holds $2 billion worth of BTC.

The “lost” whales make up a group worth $1.3 billion.

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Read full article » https://thenextweb.com/hardfork/2018/10/11/thank-cryptocurrency-whales/


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