HomeNEWSShrimp and whales, the hope for cryptocurrencies • ENTER.CO

Shrimp and whales, the hope for cryptocurrencies • ENTER.CO

Shrimp and whales have teamed up to coping with the bleak outlook for cryptocurrencies. Although they are two groups that contrast in the cryptoverse, this time they seek to convince the skeptics despite the bad streak of digital currencies.

Both shrimp and whales they are known as HODLersWhat are they investors in Bitcoin as a long-term proposition who refuse to sell their holdings. Shrimp have less than 1 bitcoin (or its equivalent in other currencies) and this time they are adding 60,460 bitcoin per month to their wallets, the most aggressive rate in history. While the whales have over 1,000 bitcoins and were adding 140,000 coins a month, which is the highest rate since January 2021. This shrimp and whale strategy brings the crypto market closer to domination by HODLers.

It may interest you Behavior of the bitcoin market falls to 2018 levels

The month of June was the worst for Bitcoin performance in over 11 years, however, the fall seems to have slowed down as demand begins to move. This could be explained by a stagnation of new entrants, but in the face of retention of a base load of users such as HOLDers. The decline in cryptocurrency prices enters its eighth consecutive month and although this has HOLDers’ wallets in the red, they refuse to pay the deposit and sell their digital currencies.

In fact, an analysis by eToro revealed that 55% of US crypto retailers held onto their investments despite recent sell-offs. In addition, in June it was reported that the 16% of global investors increased their holdings in cryptocurrencies. Apparently, investment in cryptocurrencies is in the hands of young people who are more risk tolerant because they have many years ahead of them to recover their investments.

Image: master1305 on Freepix.es

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