I'm compiling a list of altcoins where majority is owned by whales. Like the recent BAT ICO.
We all know that whales can manipulate the price and can cause pump and dump of certain coins. You can have short term profits from some of these coins, but long position is always fraught with danger. Some coins that comes to mind are XRP, gnosis and most recently BAT.
I have only recently started researching and my knowledge of whale owned coins are limited to past few months. Any more alts that I should stay clear of?
BAT, ARAGON, and another biggest ico. remember the biggest portion of the gnosis token already hold by the developer of the project itself. That means there is no a lot of whales were holding it.
Whale always try to manipulate the price of the token.