Blockchain Analysis firm Chainalysis says that Bitcoin whales are not killers, rather they stabilize Bitcoin Markets

Who are Bitcoin Whales?

Traders:

These whales frequently draw in with trades to purchase and offer bitcoin. With nine wallets controlling more than 332,000 coins, worth simply over $2 billion, whales who effectively exchange make up the biggest class, yet just about 33% of aggregate whale property. Traders are additionally generally late landings in the Bitcoin universe: most got into the market in 2017.

Miners/Early Adopters:

The second biggest gathering of whales entered the market substantially before, preceding 2017. This gathering incorporates 15 financial specialists, likewise holding a sum of 332,000 coins, worth more than $2 billion. Current exchanging movement for this gathering is greatly low. A considerable lot of them made noteworthy divestments in 2016 and 2017 as the bitcoin price took off and are currently, we expect, to a great degree affluent.

Lost:

Lost whales make up another extensive piece of the unit with five wallets holding more than 212,000 coins, worth roughly $1.3 billion. These are wallets where the proprietor has lost their private keys and can never again get to their bitcoin. By definition, there have been no exchanges at all from these whales since 2011. ‍

Criminals:

This is the littlest fragment among the whales with three wallets, more than 125,000 coins and barely shy of $790 million in resource esteem. Two of these whales are associated with the Silk Road darknet showcase, while alternate has all the earmarks of being engaged with tax evasion.

Are these Bitcoin Whales bad?

According to the research, only one-third of the assets of these whales, who are bitcoin traders, are actively buying and selling bitcoin. That means 66% of the whales are not even transacting with their Bitcoins.

The Whale Traders are actually Bitcoin Buyers

Chainalysis says that according to their research, during the price declines of December 2017 and most of 2018, trading whales were actually net purchasers. The wallets of Bitcoin Trader whales are in a net gain of Bitcoin during this time. That means the bitcoin whales are actually buying the dips.