Whale
A holder whose position is large enough to move an asset's price when they trade.
✦ Key Insight
In thin markets a single whale exit can erase weeks of gains, so holder concentration is a direct measure of downside risk.
✕ Common Misconceptions
Reading every large transfer as a sell. Many are internal reshuffles, custody moves or market-maker inventory. Also assuming whales are informed — large holders are frequently wrong.
Detailed Explanation
In Practice
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Wallet
Software or hardware that stores your private keys and lets you sign transactions.
Token
An asset created by a smart contract on an existing blockchain rather than being that blockchain's native currency.
Blockchain
A shared, append-only record of transactions maintained by many independent computers at once.
Transaction
A blockchain transaction is a signed or authorized instruction that changes blockchain state or transfers value when accepted by the network.