The "whales" in the context of cryptocurrencies are individuals or entities that hold large amounts of a particular cryptocurrency. These whales have a significant impact on the market because by moving large sums of a cryptocurrency, they can influence its price, creating volatility.
The term is used metaphorically, comparing these individuals to marine whales that are large and powerful compared to smaller species. Whales can be wealthy individuals, investment funds, exchanges, or entities that have accumulated a large amount of digital assets over time.
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