Big whales and institutional investors super bullish on Bitcoin and VeChain

  • Despite the crypto winter, data shows that institutional players have been accumulating more digital assets
  • VeChain won’t mind providing carbon-neutral consulting services to Qatar to help the nation host a carbon-neutral event.

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

VeChain Sees More Whales Activities

The native tokens of the leading enterprise-based blockchain protocol VeChain (VET) and VeChainThor Energy (VTHO) are gaining traction among large whales as the network continues its impressive shows.

More importantly, the carbon-neutral platform’s popularity is growing amid the FIFA World Cup currently ongoing in Qatar. The football Mundial is the first soccer competition held in the Middle East.

More interesting about this is that VeChain’s green initiative serves as the groundwork for the tournament, with the organizers committed to a fully carbon-neutral event.

As a top enterprise-level blockchain and member of the Climate Chain Alliance (CCA), VeChain intends to provide its carbon-neutral consulting services to Qatar during the ongoing FIFA world cup.

Various data metrics show that Qatar will generate nearly 3.6 million tons of carbon emissions before the football Mundial is over. However, Qatar also made every effort to reduce carbon emissions during its design and preparation for this event. For instance, it will provide extensive recycling, composting, and electric vehicles to absorb and offset CO2 emissions.

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Hence, it is 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’s performance continues, its native token (VET) will be among the most favorite tokens investors will start accumulating from henceforth and the new year.

Current data shows that VeChain gained 0.23 percent in the last 24 hours and trades at $0.01868. Investors go all out for tokens with promising returns, and VET is an example of such a token.

Survey shows whales are accumulating Bitcoin

According to a recent survey by Coinbase, institutional investors have been increasing their crypto allocations despite the bearish market trend. The US-based crypto exchange involved 140 institutional investors in its study between September and October. Coinbase added that the accumulated tokens represent $2.6 trillion worth of assets under management (AUM).

Furthermore, the survey showed that despite the bear trend in late October, the market capitalization was still in the $1 trillion range. From the survey, 62 percent of participants focus on the long-term by investing in core crypto assets compared to last year. Only 12 percent of them reported a reduced allocation for digital asset investments.

Also, 58 percent of participants want to expand their crypto investment portfolios in the next three years. However, 6 percent disclosed that they would reduce their exposure to cryptocurrency. The overall sentiments from the survey show that despite the crypto winter, 72 percent of large-scale investors are convinced that digital assets are the future of money.

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