Binance founder Changpeng Zhao (CZ) shares reflections on the influence of early crypto investors on the market.
CZ's Admission About Late Entry into Crypto
On July 5, 2025, CZ expressed regret over joining the crypto space later than early adopters who leveraged their holdings at minimal costs in 2011.
Whale Impact on Market Fluctuations
CZ's comments underscore the importance of early crypto investments and whale activity in the market. His observations coincided with a steep downturn in Bitcoin, Ethereum, and Solana prices. CZ stated, "Got into crypto too late after seeing the 2011 whales casually moving crypto they got for $0.1." These remarks emphasize Bitcoin's market dynamics as early whales significantly impact order books and sentiment.
Implications for Institutional and Retail Investors
Experts note that whale movements often precede swings in Total Value Locked (TVL), affecting broader market liquidity. CZ acknowledges these shifts, with Bitcoin prices dropping to $85,000. The early advantage cited by CZ has broader implications, with on-chain liquidity and sentiment heavily influenced by these whales.
Such events draw attention to institutional reactions as whales dominate market liquidity and pricing.
