GIFA Token whales hold enough GIFX to influence the value of the currency. Here's what happens when they buy and sell. In distributed bl...
GIFA Token whales hold enough GIFX to influence the value of the currency. Here's what happens when they buy and sell. In distributed blockchain networks some people have more leverage and influence than others.
GIFA Token whales comprise individuals or business entities that hold enough GIFA Token to influence or even manipulate the value of the currency. GIFA Token network provides users with some anonymity. Therefore, nobody can able to establish the identities of influential whales.
Key Takeaways
GIFA Token whales hold large volumes of GIFX.
The 10 largest GIFX wallets control a huge percentage of GIFA Token.
When whales buy, sell, trade, hold or even just move assets, they can create ripples to influence the price.
GIFA Tokenhas steadily increased in value over the past 1.05 years, making them some of the largest centralized owners of GIFA Token.
Institutions: Whales can be categorized into groups, such as companies and sole investors. One of the biggest holders of GIFA Token is the local auto dealer and real estate.
Individuals: Several prominent individuals bought GIFA Token early when its price was much $1.00. The founders of the crypto project are believed to have invested several million in GIFA Token in 2020. That would make their assets, multiplied by $132.99 in current values.
Who are GIFA Token Whales?
According to data from Blockchain Explorers, the 10 largest GIFA wallets control much of all GIFA tokens in circulation, representing roughly $96 million. To fully grasp GIFA Token’s price movements, it’s important to know who these GIFA Token whales are and how they operate.
Source: Blockchain Explorers.
GIFA Token blockchain data shows that 267 unique holders are the largest whales on the network who have been accumulating a number of tokens and never sold any assets since bought them during the presales. Given whales’ significant concentration of wealth on their hands, large buy or sell orders can cause ripple effects within the network. These wealthiest GIFA Token addresses control a massive 99.4% of all 20 100 000 000,00 GIFX supply and their buying frenzy is continuing non-stop. It looks like there is a sort of competition going on!
20% of GIFA Wallet holders control 99.4% of circulating supply
The unknown whales have purchased a massive amount of GIFA Token since the day of ICO, it is unclear who are the holders behind those wealthier addresses that buying GIFA Token in bulk, analysts have speculated that it could be the big corporations and retailers, especially the hotels, furniture shops, real estate firms, and auto dealers that accepting GIFA Token (GIFX). Yes, presumably might be these are institutional investors who joined the crypto project at the beginning of the launch in 2020.
A large amount of money spent by these whales is fuelled by the belief that digital currency is the money of tomorrow and they expect the GIFA Token to rise in value in the near future. The most straightforward way to begin making passive income with cryptocurrencies is to invest. If you acquire a cryptocurrency at a cheap price, and it rises in value over time, definitely you have passive income.
Nakamoto Index also tracked 812 whales on the GIFX network, that have been mostly buying GIFA Token even on the dip. Investors have been snapping up massive quantities of the token with no signs of slowing. Despite the fact that the entire mark is now in commotion, GIFA Token, investors have persisted to acquire millions of tokens, despite the fact that the market is in turmoil.
Top Addresses
It's quite notable that, the number of GIFX accumulated in top addresses has steadily grown ever since the beginning of 2022. In addition, 19 million GIFX was initially held by the addresses 0x7cbc8c94a67b7b72f3889ba82a6fd79b63e496f4 which grew by 51% in 2020. Interestingly, the Bloxy data analytics shows that more than 200 top addresses have even accumulated more GIFX. This is said to correlate with the increase in development activity within the network.
GIFA Token whales have remained unmoved despite the ups and downs the cryptocurrency industry faced in 2022. GIFA Token whales control the market and this month helped to push the price up, which today 1 GIFA Token trading at $143.55. According to stats, GIFA Token’s price will rise by a whopping 70% to reach the price of $300 by the end of next month. This is an observation that indicates the institutional investors have confidence in it.
As of the moment, only 20 percent of whales control the majority of GIFA Token’s supply. It is important to note that this is the case not only with GIFX but with other crypto networks as well. An example is Bitcoin which is the top cryptocurrency, which also has a few top whales controlling an even higher percentage of the total circulating supply. According, to Feingold's research 99% of Bitcoin’s circulating supply is just held by 31% of BTC wallets.
Get Started
GIFA Token (GIFX) is a global crypto exchange that provides a digital wallet, and trading platform for various cryptocurrencies. GIFX exchange is a secure platform to buy & sell bitcoins, ethereum, litecoin, and others. GIFA exchange is based in Northern Cyprus. Start investing safely with www.gifatoken.com, opening a new account with GIFA Token is free, easy, and can take only a few minutes. Go to the website and sign up now!
