The large market players in crypto are often called crypto whales in colloquial terms. This term is derived from the analogy where the crypto market is considered an ocean and the big market players manipulating the space, whales or sharks. Average investors, who pick up the crumbs left by these big market makers are considered tiny fish. Crypto whales are often the institutions or individuals having access to a large volume of crypto assets. A crypto whale can either have a large number of certain crypto assets or multiple cryptos in large quantities.

These big players are called crypto whales because they cause a market change or fluctuation whenever they buy or sell a large number of their crypto assets. These investors have the ability to manipulate the crypto market, similar to what we see in the ocean when whales make a move, creating waves or ripples in the entire ocean.