According to the study provided by blockchain research firm Chainalysis, bitcoin’s largest holders of so-called whales are a diverse group that may be stabilizing, rather than destabilizing, the market
The research of 32 largest BTC wallets, which reportedly represent 1 million BTC, or around $6.3 billion shows that the activity of whales do not intensify volatility, as during the major declines in 2017 and 2018 they were net buyers of BTC rather than selling. That means that trading whales were buying on declines and, consequently, were a stabilizing, rather than destabilizing factor in the market,
A whale is an individual or entity that own large amount of the cryptocurrency and is considered to exert influence on the market volatility by selling or buying assets in big amounts and manipulating the prices.
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