- Despite crypto winter, data shows institutional players are accumulating more digital assets
- VeChain will not hesitate to provide carbon neutral advisory services to Qatar to help the country host a carbon neutral event.
The broader crypto market may have dropped to another low in the past few days. Still, institutional players and whales aren’t giving up as they accumulate more digital assets as the crypto winter hardens.
VeChain Sees More Whale Events
Native tokens of leading enterprise-based blockchain protocol VeChain (VET) and VeChainThor Energy (VTHO) are gaining traction among big whales as the network continues its impressive show.
More importantly, the popularity of the carbon-neutral platform is growing during the FIFA World Cup currently underway in Qatar. The Football World Cup is the first football competition held in the Middle East.
“VeChain, the world’s leading enterprise-grade blockchain platform, is a member of the Climate Chain Alliance (CCC) and provides carbon-neutral advisory services, actively responds to carbon-neutral policies, and demonstrates responsibility for climate governance.” 🌱 pic.twitter.com/atbHCht1V1
— eisenreich (@eisenreich) 24 November 2022
What’s more interesting about it is that VeChain’s green initiative lays the groundwork for the tournament with the organizers’ commitment to a completely carbon-neutral event.
VeChain, an enterprise-grade top blockchain and member of the Climate Chain Alliance (CCA), aims to provide carbon neutral advisory services to Qatar during the ongoing FIFA world cup.
Various data metrics show that Qatar will produce around 3.6 million tons of carbon emissions before the World Cup ends. However, Qatar made every effort to reduce its carbon emissions during the design and preparation phase for this event. For example, it will provide extensive recycling, composting and electric vehicles to absorb and offset CO2 emissions.
Therefore, it is not surprising that VET is among the most sought after crypto assets favored by whales as the blockchain ecosystem continues to be adopted more widely. If VeChain’s performance continues, its native token (VET) will be among the top tokens that investors will start accumulating from now on and starting the new year.
Flow dating shows VeChain has gained 0.23% in the last 24 hours and is trading at $0.01868. Investors will do anything for promising tokens and VET is an example of such a token.
Survey shows whales hoarding Bitcoin
According to a recent survey by coin base, institutional investors are increasing their crypto allocations despite the bearish market trend. The US-based crypto exchange included 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).
Also, the survey showed that the market cap is still in the $1 trillion range, despite the bearish trend at the end of October. From the survey, 62 percent of respondents focus on the long term, investing in core crypto assets compared to last year. Of these, only 12 percent reported a reduced allocation for digital asset investments.
—Coinbase Enterprise (@CoinbaseInsto) 22 November 2022
Also, 58 percent of respondents want to expand their crypto investment portfolio in the next three years. However, 6 percent said they would reduce their exposure to cryptocurrency. The overall insights from the survey show that despite the crypto winter, 72 percent of large-scale investors are convinced that digital assets are the future of money.
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