Anyone actively involved with cryptocurrencies and blockchain has likely heard the term “whales” used at least once as the term is primarily used on Crypto Twitter (CT) to describe wealthy individuals who hold considerable amounts of a specific cryptocurrency.
Usually among the “whales” is the founding team of a project, like in the case of Bitcoin, creator Satoshi Nakamoto, who’s known address contains roughly 1 million Bitcoin. This position makes Satoshi possibly the 44th richest person (or entity) in the world at the time. Twitter is a great source of information, but occasionally it has been used by many so-called “influencers” who tend to present themselves as whales of specific cryptocurrencies. While CryptoTwitter’s pseudo-influencers could lie and confuse early adopters in regard to their positions and transactions (or involvement with monetary units, especially in the Initial Coin Offering era), blockchain transactions don’t lie. While the ICO mania has moved on, we have seen a gradual increase of interest in Initial Exchange Offering (IEOs) which are becoming the new trend in the industry, and whales and Twitter shillers have awakened again!