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What Is a “Whale” in the Context of Cryptocurrency Trading?

A "whale" is a large holder whose trades can significantly impact market price; they use OTC desks to avoid causing extreme volatility.
Greeks.Live12.11.25

What Is a “Whale” in the Context of Cryptocurrency Trading?

A "whale" is an individual or entity that holds a disproportionately large amount of a specific cryptocurrency. Due to their large holdings, their trading activity ▴ especially a large buy or sell ▴ can significantly influence the market price.

Whales are the primary users of crypto OTC desks, as their trades on public exchanges would cause extreme slippage and volatility.

Can Retail Investors Access Crypto OTC Desks?
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How Do OTC Desks Utilize Request for Quote (RFQ) Systems?
What Is the Primary Role of an OTC Desk in Facilitating Institutional Crypto Block Trades?

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