Hodler: Someone who doesn’t sell, but clings to his coins. “HODL” was originally a typo, but got the status of a funny backronym: “Wait for life”.
In this way, the popular cryptocurrency investment website Cryptomaniaks is defined in its glossary of terminology that is commonly used for the crypto space. And the fact is that the variety of terms that apply to the crypto world and in particular to trading in cryptocurrencies is as diverse as the ocean. This has usually been used as a reference to apply analogies to certain actors influencing the alternative market.
Although the origin is unknown, it is very popular with some traders to hear the terms “whale” or “dolphin”. according to the amount of coins they have in their wallets to take action on the price of a particular asset.
This is similar to the custom in Wall Street’s traditional financial markets to classify as “shark”, the large players who are able to influence the movement of stocks within the market at will.
But Depending on the size of your portfolio, you can classify within the crypto space If at the level of trade or trade – as the term is known in English – it refers.
In order to, If someone accumulates large amounts of Bitcoin, they can be classified as Bitcoin whales “Or crypto by cryptocurrency in general” or a small shrimp if it scoops out little less than 1 BTC, all according to the CryptoManiaks classification.
The Bitcoin community has ranked the Bitcoin holder according to the amount of BTC they have in their Bitcoin wallet.
So when asked how much Bitcoin you have, you can say “I’m Fish” or “I’m Dolphin” or “I’m Shark” instead of giving the actual number of Bitcoin. pic.twitter.com/72xiYge5rR
– CryptoManiaks (@CryptoManiaks) May 3, 2020
The classification leaves a well-differentiated segment in terms of BTC’s financial performance that every person or institution has in the cryptocurrency market. With the highest rating and contrary to what many thought, humpback whales are the big ones in the ecosystem with a balance of more than 5,000 BTC in their personal purses, which is about $ 45 million at today’s exchange rate.
In the lower category with less than 100 BTC in equilibrium in their purses are the so-called fish, octopus, crab and shrimpas the smallest representation on the market and similarly voluminous both in the crypto space and in real oceans.
On March 27, Glassnode announced this in its official Twitter account the number of addresses with at least 1 BTC “crab”, They had reached the all-time high almost 800,000 purses.
Previous ATHs of 797,073,000 were observed on March 25, 2020
Show metric: https: //t.co/s7tx1xxyz3 pic.twitter.com/jXYUf0bNvi
– Glassnode warnings (@glassnodealerts) March 27, 2020
If we add the Bitcoin addresses with less than 1 BTC, According to Glassnode, the total amounts to almost 12 million purses, only among the crabs and shrimps in the “crypto-ocean”.
It’s not just the ocean, there are also land animals on the crypto market
In the crypto ecosystem, it is common to use these animal metaphors to represent certain actors or positions within cryptocurrency trading. Although they are not unique terms in the crypto space and have long existed in the traditional financial market, the truth is that The presence of whales, bears and bulls is used from the origin of the crypto market.
In order to, Bulls represent bullish buyers, Whales for sellers and the downward trend, while whales are generally associated with large investors who are able to manipulate the market with a large buy / sell order for a particular asset.
While there is no clear and definitive explanation for why these animals were selected to represent the cases described above, there is at least one associative theory that attempts to provide a logical reason for this question.
The meaning of these terms beyond identifying your actions depends on understanding your key position in the market. For this reason, many investors, for example, closely monitor whale actions on Bitcoin and the market in general, as this monitoring enables them to understand the impact of their respective positions on the market.
Knowing what a bear or bull market means to bulls in particular can be beneficial or harmful to the average investor.in addition to using the shock wave generated by the actions of the whales on the market.