- Despite the crypto winter, the data shows that institutional players are accumulating more digital assets.
- VeChain will have no objection to providing Qatar with a zero-carbon advisory service to help the country host a zero-carbon event.
Over the past few days, the broader cryptocurrency market may have fallen to another low. However, institutional players and whales are not giving up as they accumulate more digital assets as the crypto winter gets stronger.
VeChain sees more whale activity
The native tokens of the leading enterprise blockchain protocol VeChain (VET) and VeChainThor Energy (VTHO) are gaining popularity among big whales as the network continues to deliver impressive results.
More importantly, the carbon-neutral platform is growing in popularity amid the FIFA World Cup currently taking place in Qatar. Football Mundial is the first football competition held in the Middle East.
“As the world’s leading enterprise-grade 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 climate responsibility.” 🌱 pic.twitter.com/atbHCht1V1
— Eisenreich (@eisenreich) November 24, 2022
What’s more interesting about this is that VeChain’s green initiative serves as the foundation for the tournament, with the organizers aiming for the event to be completely carbon neutral.
As a leading enterprise-grade blockchain and a member of the Climate Chain Alliance (CCA), VeChain intends to provide its carbon-neutral advisory services to Qatar during the current World Cup.
Various figures show that Qatar will produce 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 the event. For example, it will provide extensive recycling, composting and electric vehicles to absorb and offset CO2 emissions.
Hence, it is not surprising that VET is one of the most sought-after crypto assets favored by whales as its blockchain ecosystem continues to enjoy greater adoption. If VeChain’s performance continues, its native token (VET) will become one of the most beloved tokens that investors will start accumulating from now and into 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 yields and VET is an example of such a token.
Survey Shows Whales Hoarding Bitcoin
According to a recent survey by Coinbase, institutional investors are increasing their investment in crypto despite the bearish market trend. A US-based cryptocurrency exchange recruited 140 institutional investors for the study between September and October. Coinbase added that the accumulated tokens represent $2.6 trillion worth of assets under management (AUM).
In addition, the survey showed that despite the bearish trend at the end of October, the market capitalization is still in the $1 trillion range. According to the survey, 62 percent of participants are focused on the long term, investing in major crypto assets compared to last year. Only 12 percent of them reported cutting allocations for investments in digital assets.
— Coinbase Institutional (@CoinbaseInsto) November 22, 2022
In addition, 58 percent of participants want to expand their crypto investment portfolios in the next three years. However, 6% said they would reduce their exposure to the cryptocurrency. The general sentiment obtained from the survey shows that despite the crypto winter, 72% of large investors are convinced that digital assets are the future of money.