BTC whales versus BCH whales

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3 years ago

Crypto-currency is gradually taking a large part in the world's economy today. It comprises of different users; investors, traders, people who use it for purchase of one thing or the other.

Investors who hold a large number of digital assets are typically called ‘whales.’ There are also all types of whales like BTC whales, ETH whales, and BCH whales.

A Bitcoin whale is described as a person or organization with a single address containing around 1,000 BTC or more.

There are two types of Whales- Small whales and the mega whales.

Whales with around 1,000 BTC would be considered small whales. According to cryptobriefing.com, there are almost 2,100 separate Bitcoin addresses with at least 1k Bitcoin, making it 500 added number from last year's statistics. Information from Onchain data had it that from December 17, 2018 until May 1, 2020, shows these smaller whales grew by 14.13%.

Then there are mega-whales who own 10,000 BTC or more, which is around $91million using today’s exchange rates.

BCH on the other hand, created from Bitcoin in August 2017 was created against the limitations of Bitcoin which is to increase the size of blocks, allowing more transactions to be processed. BCH also went on another fork in November 2018 and split into Bitcoin Cash ABC and Bitcoin Cash SV (Satoshi Vision).

Today, BCH has a quite number of whale, who own at least 1,000 BCH in a single address. These whales cause the rise and fall of BCH. Having more people to invest in Bitcoin cash will bring about tremendous rise in its value. It is been predicted that by the end of year 2020, BCH price will be up to $308.

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Comments

Wow, this post is really informative, I learnt new stuffs reading this wonderful piece, from knowing the difference between bitcoin whale and Bitcoin cash whale. Thanks so much

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3 years ago