- Despite Crypto Winter, Data Shows Institutional Players Accumulated More Digital Assets
- VeChain will not hesitate to provide carbon neutral consulting services in Qatar to help the country organize a carbon neutral event.
The broader crypto market may have dipped to another low over the past few days. Yet institutional players and whales are not giving up as they accumulate more digital assets as the crypto winter bites harder.
VeChain sees more whale activity
Native tokens of leading enterprise-based blockchain protocol VeChain (VET) and VeChainThor Energy (VTHO) are gaining traction among the big whales as the network continues its impressive shows.
More importantly, the popularity of the carbon-neutral platform is increasing amidst the FIFA World Cup currently taking place in Qatar. The Football World Cup is the first football competition organized in the Middle East.
“As the world’s leading enterprise-level blockchain platform, VeChain is a member of the Climate Chain Alliance (CCC) and provides carbon neutral advisory services, actively responds to carbon neutral policies and demonstrates accountability. of climate governance. 🌱 pic.twitter.com/atbHCht1V1
— eisenreich (@eisenreich) November 24, 2022
More interestingly, VeChain’s green initiative serves as the basis for the tournament, with the organizers having pledged to run a completely carbon-neutral event.
As a leading enterprise-level blockchain and a member of the Climate Chain Alliance (CCA), VeChain intends to provide its carbon-neutral advisory services in Qatar during the ongoing FIFA World Cup. .
Various data measurements show that Qatar will generate almost 3.6 million tons of carbon emissions before the end of the World Cup. However, Qatar has also made every effort to reduce carbon emissions during its design and preparation for this event. For example, it will provide intensive recycling, composting and electric vehicles to absorb and offset CO2 emissions.
It is therefore 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 preferred tokens that investors will start accumulating from now and the new year.
Current data shows that VeChain has gained 0.23% in the last 24 hours and is trading 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 Hoarding Bitcoin
According to a recent Coinbase survey, institutional investors have increased 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 in assets under management (AUM).
Furthermore, the survey showed that despite the downtrend at the end of October, the market capitalization was still around $1 trillion. According to the survey, 62% of participants are focusing on the long term by investing in core crypto assets compared to last year. Only 12% of them reported a reduced allocation for investments in digital assets.
– Coinbase Institutional (@CoinbaseInsto) November 22, 2022
Additionally, 58% of participants want to expand their crypto investment portfolios over the next three years. However, 6% revealed that they would reduce their exposure to cryptocurrency. General sentiments from the survey show that despite the crypto winter, 72% of large-scale investors are convinced that digital assets are the future of money.