In the cryptocurrency market, "whales" are individuals or entities that hold a significant amount of cryptocurrency. They are called whales because their holdings are large enough to influence the market, much like how a whale's movement can affect the ocean. Here's a breakdown of their role:

**Key Characteristics of Crypto Whales:**

- **Large Holdings:** Whales own a substantial amount of cryptocurrency, which can be subjective but generally means they have enough to impact currency markets.

- **Market Influence:** Due to their sizable holdings, whales can significantly influence price movements and create volatility.

- **Monitoring:** Their activities are closely watched by the community and investors, as transactions by whales can indicate market trends.

**How Whales Affect the Market:**

- **Liquidity Impact:** If whales hold onto their assets without trading, they reduce the liquidity of the cryptocurrency, as there are fewer coins available for others to buy and sell.

- **Price Volatility:** Large transactions by whales can create price swings. For example, if a whale sells a significant amount of cryptocurrency, it can cause the price to drop due to increased supply on the market.

**Publicly Known Whales:**

Some crypto whales are publicly known, like Tyler and Cameron Winklevoss, Michael Saylor, and Brian Armstrong. Their actions are often reported and analyzed for potential market impact.

In essence, whales have the power to make waves in the cryptocurrency market, and their actions are often indicators of potential price changes or market sentiment.