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Crypto whales – large holders of cryptocurrencies – are known for their propensity to accumulate relatively unknown cryptos, often emerging as the key driver of value in their early stages of development. Recently, it appears that one lesser known AI coin has been accumulating quite a bit of attention from crypto whales.
The coin in question is called Balancer (BAL), and it is a protocol for automated portfolio management and liquidity. It is a ‘dynamic liquidity pool’ that uses a variety of token weights and staking behaviours to ensure the optimal trading of an asset.
Unlike many other coins on the market, Balancer is designed to reward liquidity—essentially, by offering “liquidity mining” where liquidity providers are paid in Balancer tokens. This incentive system has been a major driver in the coin’s recent surge in popularity and has attracted many crypto whales looking to increase their holdings.
In addition to the incentives Balancer offers, its technology also provides users with a more secure and decentralized platform compared to centralized exchanges, which have had a tendency to suffer from hacks in the past. Blockchain data also suggests that crypto whales are accumulating Balancer for the long-term, which indicates a level of confidence in the project’s success.
All in all, Balancer appears to be an attractive option for crypto whales looking to invest in an emerging coin with promising technology and lucrative incentives.