How Crypto Whales impacted Big Eyes Coin ($31.71M Presale!), Bitcoin, and Ethereum this week – Euro Weekly News

They say when whales make big moves, they also create massive waves. The recent upsurge in crypto prices is a testament to this.

The soaring crypto trading prices and volumes impressed investors and traders. Bitcoin, Ethereum, and Big Eyes Coin have seen numbers shoot up, further stimulating their respective users to invest. At the same time, it evoked curiosity in the market, wondering what the whales have been up to.

Cryptocurrency whales, or crypto whales, are individuals or entities that own hefty amounts of cryptocurrencies. Due to the size of crypto whales holdings, they can intentionally or unintentionally influence price trendsas seen in this weeks trading volume. They are typically coin holders with at least 1,000 BTC (equivalent to $10 million) or more.

According to NewsBTC, fish-themed ideas have long been associated with the cryptocurrency sector, derived from traditional trading, where market participants are evaluated according to their successes, skills, and expertise. As such, when the crypto was at its peak, a complete ranking chart of Bitcoin holders and those who hold other cryptocurrencies in Bitcoin equivalent was created.

The crypto grading system is as follows:

Shrimps: <1 BTC

Crab: 1-10 BTC

Octopus: 10-50 BTC

Fish: 50-100 BTC

Dolphin: 100-500 BTC

Shark: 500-1,000 BTC

Whale: 1,000-5,000 BTC

Humpback: >5,000 BTC

Despite the ongoing US bank crisis, Bitcoin (BTC), as of this week, reached a nine-month high of $26,500, while Ethereum (ETH) peaked at $1,778.

The overall crypto rise could be attributed to a variety of factors, including significant spot-driven buying pressure and a drop in the value of the US dollar. Expounding on the latter factor, crypto behavior analytics platform Santiment suggested that the massive transfers were caused by whales concerns about the security of the stablecoin USD Coin (USDC). It had recently disclosed a $3 billion exposure to the now-defunct Silicon Valley Bank.

According to CoinMarketCap, the live Bitcoin price on Friday was $25,793.09, with a trading volume of $37.54 billion and a market cap of $498.31 billion. BTC has been shooting up double digits by 30.70% in the last seven days.

The live Ethereum price on Friday was $1,705.38, with a trading volume of $9.86 billion and a market cap of $208.69 billion. With this, ETH soared 21.84% in the last seven days. This data is taken from CoinMarketCap.

The global cryptocurrency market cap on Friday was $1.16 Trillion, according to CoinGecko.

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This week, BIG has raised $31,712,998.23 of funds before its official launch.

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