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It is crucial to recognize the disproportionate power of big investors, sometimes referred to as “crypto whales,” who possess substantial cryptocurrency holdings and have the ability to affect market trends through their purchasing and selling activity.
As per a recent analysis published by Chainalysis, the market is significantly influenced by crypto whales, who together possess more than 70% of all Bitcoin in circulation.
The top 100 wealthiest non-exchange Ethereum addresses also control more than 20% of the whole ETH supply, according to statistics from Bitinfocharts, indicating their important role in the Ethereum ecosystem.
These figures highlight the possible influence of cryptocurrency whales on the value and general perception of different cryptocurrencies.
As new initiatives observe the whale activity of larger coins, I wonder if they will be able to match those levels in their pursuit of the next big opportunity.
This article will go over two new names that are making a lot of noise in the cryptocurrency space right now: Meme Kombat (MK) and Scorpion Casino ($SCORP), as well as how Ethereum (ETH) is currently performing.
Within the cryptocurrency gambling market, Scorpion gambling is unique. The platform, which focuses on operations that are licensed and controlled, has generated over $5.3 million from over 11,000 participants in its continuing presale.
At the time of debut, Scorpion Casino offered a wide range of games, including virtual sports, live dealer tables, and casino classics, with over 30,000 betting options available each month.
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This accommodates a broad spectrum of player interests, which is reinforced by the platform’s dedication to security and openness.
SolidProof conducts a thorough audit of Scorpion Casino’s smart contracts, and Assure has verified the founding team’s KYC, which promotes confidence among the community.
Unlocking the platform’s full earning potential requires staking SCORP tokens.
Whatever the state of the market, holders are guaranteed a daily passive staking revenue of up to 10,000 USDT.
Because of this special function, SCORP is positioned as a top token that offers daily incentives depending on the performance of the casino.
Ethereum is the second-largest cryptocurrency by market capitalization, having been launched in 2015. It is a decentralized platform used to create and launch decentralized apps, or dApps.
Crypto whales, which are well-known for their enormous holdings and market sway, have shown fresh enthusiasm for Ethereum lately.
One well-known whale staked an incredible $45.5 million in Ethereum in just six days, and another whale withdrew a sizable amount of money with Ethereum in mind, suggesting that this whale was taking a targeted approach to investing.
The price of Ethereum has significantly increased as a result of these measures, supporting price projections for the well-known cryptocurrency.
Meme Kombat is a brand-new Web3 game platform that hits the scene. It adds entertainment value and the possibility of financial gain to the meme currency market by enabling users to participate in meme battles and place bets on their results.
Strong community support for the initiative has resulted in over $8 million being raised toward its $10 million hard cap.
However, Meme Kombat’s main selling points are its uniqueness and entertainment value as opposed to the wider financial advantages provided by Scorpion Casino.
Scorpion Casino’s emphasis on prizes and regulation may make it more appealing to a wider audience than this, even though it targets a particular demographic looking for an entertaining and captivating experience.
Scorpion Casino shows itself as a formidable competitor for investors looking for a blend of earnings potential, entertainment, and regulated operations.
In the constantly changing world of cryptocurrencies and online gambling, its emphasis on daily payouts, transparency, and security makes it an appealing choice.
Disclaimer: The information provided is for educational and informational purposes only. It does not constitute financial advice, and you should always conduct your research or consult with a professional before making any investment decisions.
