Crypto experts are making waves on social media. Blockchain Backer in particular has seen an uptick in popularity over the last few months.
He’s a cryptocurrency expert who provides insight on the direction of the market and what lies ahead for crypto. Additionally, he offers courses on technical analysis of financial markets.
Twitter’s Blockchain Project
Twitter CEO Jack Dorsey is a passionate supporter of blockchain technology, which can protect social media platforms from censorship. To that end, he has formed an internal crypto team to investigate ways Twitter can incorporate it into its platform.
But they are not alone in exploring a blockchain-based solution for social media. Discord, Reddit and even Google are all investigating the potential uses of this decentralized technology.
On Wednesday, Twitter announced the creation of a distributed technology-focused hire and formation of a crypto team led by software engineer Tess Rinearson. This move marks an important shift by Twitter towards decentralized networking with the aim of giving individual users more control over their data and privacy.
The new team will explore ways to make Twitter more crypto-friendly, including the ability to accept payments with cryptocurrencies such as Bitcoin. Furthermore, it plans on working with bluesky, a project that aims to build a decentralized social media protocol built upon blockchain technology.
“Distributed technology has the potential to make social media more accessible and secure for everyone,” Rinearson stated in her blog post, noting that her mission is to give users tools to earn money or accept cryptocurrency for their work on Twitter.”
She expressed that the blockchain offers “an opportunity to democratize access to content and data” while giving people control over their digital identity. Ultimately, Twitter hopes that blockchain can help it become “the world’s super app.”
Another crypto-friendly initiative comes from Aave, a money lending startup building a decentralized social network on the Ethereum blockchain. Through their system, users are able to connect and exchange their digital currency with other tokens while receiving real world cash rewards for their efforts.
Aave’s approach to blockchain-based social media is similar to what GitHub, a blockchain-based code repository, is currently using. According to reports, they plan on offering tokenized GitHub accounts and other services for developers to utilize in their projects.
Twitter co-founder Jack Dorsey has long been an advocate of blockchain technology, which offers secure record keeping. Now he’s created a service that will store all your tweets on the blockchain for safekeeping.
TweetBackup, the free Twitter backup service, will automatically fetch and store your tweets in an online database. Unfortunately, it can only back up up to 3,200 tweets due to Twitter API limits; however, that’s still better than nothing at all!
You can back up a list of your followers, direct messages and more for safety in case something goes awry with your Twitter account or other data. Your backup can be downloaded in CSV, text or HTML formats so that it’s accessible whenever needed.
Other services, such as FrostBox and SocialSafe, now provide Twitter backups. The latter also offers data archiving and logging services for multiple social media accounts and recently introduced a feature that allows you to back up your Facebook data for analysis.
Backupify, a Cambridge, Massachusetts-based startup, has acquired the 20,000-person customer list of Swedish startup TweetBackup. Their web-based service backs up data from five social media accounts like Twitter and Facebook as well as Gmail and Google Docs, all within one secure place.
TweetBackup is an uncomplicated service that does the job with just a few clicks. All you need to do is provide your Twitter ID and email address, and TweetBackup will back up all of your tweets on a regular basis.
Your entire tweet history can be stored in one, searchable file that can be downloaded in various formats (CSV, RSS, Text and HTML). You’ll have access to your last 50 tweets for viewing purposes and can export the entire archive in any of these formats – which is incredibly useful!
TweetBackup stands out among Twitter backup services by offering to download your entire archive in various formats. This feature is essential, as any of these files can be used to search through tweets without fear of disappearance like other backups may do.
Crypto Whale’s Net Worth
Whales are the largest investors in cryptocurrency, and their large holdings can have a substantial effect on market prices. These holders have the power to manipulate markets through various techniques such as wallet-to-exchange transfers and selling cryptocurrency to rivals.
Whales typically consist of individuals, though they can also be made up of traders working together or the trading team from a corporation or fund. With enough cryptocurrency in their possession to significantly influence market value either way, these figures are closely watched by both crypto enthusiasts and investors alike.
Crypto whales have the power to drastically affect a coin’s price by buying, selling or reallocating their funds. They are capable of buying or selling large amounts of cryptocurrency quickly, leading to wild swings in the market. Furthermore, they use various tactics like dumped orders at low prices followed by controlling supply and demand – leading to rapid decreases in value.
Similar influence over the cryptocurrency market can be exerted by social media influencers with hundreds of thousands or millions of followers. They can manipulate prices by promoting a particular cryptocurrency on their platforms and encouraging their followers to buy or sell it, leading to large trading volumes and an impact on a cryptocurrency’s market cap.
Another notable crypto whale is the Winklevoss twins, who have amassed a fortune through investments in cryptocurrencies. They own Gemini, the leading cryptocurrency exchange, and have proposed creating the first-ever Bitcoin ETF.
Whales have been known to possess vast quantities of Bitcoin, often playing an influential role in driving the value of a particular coin higher or lower. For instance, when Jihan Wu and Roger Ver sold off their vast BTC holdings for Bitcoin Cash, it increased the value of BTC while decreasing that of their rival coin.
These whales are estimated to have a net worth of billions of dollars. Many have deep connections in finance, allowing them to capitalize on market volatility and trends.
Who is Crypto Whale?
Whales are individuals or institutions with a significant holding of cryptocurrency that have the capacity to manipulate currency valuations. Due to their significant impact on the market, it’s essential to monitor their activities closely.
Crypto Whales are the largest players in the cryptocurrency world and can significantly influence prices by setting up buy and sell walls. Furthermore, they may increase the volume of transactions within a particular coin, leading to price changes when these orders are executed.
A whale’s actions can have a significant effect on the market, from making an extensive purchase to depositing coins into exchange wallets. While these events put pressure on markets, they also serve to promote demand for certain cryptos by helping boost demand.
Crypto whales typically influence a coin’s value by placing large buy orders. When they do this, other traders are likely to follow suit and purchase it too, creating what is known as the FOMO effect – fear of missing out on an easy profit. This process works in reverse when crypto whales do not do this.
Once a coin’s value increases, whale orders will likely be cancelled and investors will hodl (hold on to) their crypto in anticipation of seeing it increase in value. This can cause an upward or downward spiral in prices across the market.
Crypto whales can influence the market by selling large amounts of a coin at a lower price. This will cause prices to drop and create instability in the market; it will only stabilize when either the whale cancels their large sell orders or when all traders’ combined buying power equalizes with that of the whale’s sellers.
Crypto whales can manipulate the market by purchasing large amounts of a coin at a low price and holding it for an extended period. These actions may trigger panic chain reactions in the market and cause its value to plummet, but it’s important to remember that whales may not always be responsible; they could simply be purchasing too many coins in an effort to boost their investment or collect additional earnings from it.