Big whales and institutional investors are very bullish on Bitcoin and VeChain

  • Despite the crypto winter, the data shows that institutional players have accumulated more digital assets
  • VeChain would not mind providing carbon-neutral advisory services to Qatar to help the country host a carbon-neutral event.

The broader cryptocurrency market may have fallen to another low in the past few days. However, institutional players and whales are not giving up as they accumulate more digital assets as the crypto winter bites harder.

VeChain sees more whale activity

Leading enterprise-based blockchain protocol tokens VeChain (VET) and VeChainThor Energy (VTHO) are gaining traction among the big whales as the network continues its impressive showings.

More importantly, the carbon-neutral platform is growing in popularity amid the FIFA World Cup currently underway in Qatar. The FIFA World Cup is the first football competition to be held in the Middle East.

What’s most interesting about this is that VeChain’s green initiative serves as the foundation for the tournament, with the organizers committing to a completely carbon neutral event.

As an enterprise-class blockchain and a member of the Climate Chain Alliance (CCA), VeChain intends to offer its carbon-neutral advisory services to Qatar during the ongoing FIFA World Cup.

Various data metrics show that Qatar will generate approximately 3.6 million tons of carbon emissions before the FIFA World Cup ends. However, Qatar made every effort to reduce carbon emissions during its design and preparation for the event. For example, it will provide extensive recycling, composting, and electric cars to absorb and offset carbon dioxide emissions.

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Hence, it comes as no surprise that VET is among the most sought-after crypto assets, favored by whales as its blockchain ecosystem continues to enjoy wider adoption. If VeChain continues to perform, its parent token (VET) will be among the most popular tokens that investors will start accumulating going forward into the new year.

Stream Data appears VeChain has gained 0.23 percent over the past 24 hours and is trading at $0.01868. Investors go out of their way to acquire tokens with promising returns and VET is an example of such a token.

The survey showed that whales are hoarding bitcoin

According to a recent survey he conducted CoinbaseInstitutional investors increased their cryptocurrency allocations despite the bearish market trend. The US-based cryptocurrency exchange included 140 institutional investors in its study between September and October. Coinbase added that the accumulated tokens represent $2.6 trillion in assets under management (AUM).

Moreover, the survey showed that despite the downward trend in late October, the market capitalization is still in the $1 trillion range. Through the survey, 62 percent of respondents are focused on the long term by investing in basic crypto assets compared to last year. Only 12 percent of them report lower allocations to digital asset investments.

Also, 58 percent of the respondents want to expand their cryptocurrency investment portfolios in the next three years. However, 6 percent revealed that they would reduce their exposure to cryptocurrency. The general sentiment from the survey shows that despite the crypto winter, 72 percent of investors broadly are convinced that digital assets are the future of money.

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