Crypto whales are investors who hold large amounts of cryptocurrencies. They are often considered the most influential players in the market. Their movements can drive prices up or down, create trends, or cause corrections. But what do they do when the market stagnates, as it has for several months?
According to WhaleWatcher, a tool that analyzes whale transactions on different blockchains, crypto whales are looking for new, innovative and promising projects that could provide them with opportunities for earnings and impact. There is indeed a sector in which they seem to be interested according to the on-chain data: green cryptocurrencies.
Green cryptocurrencies, a new niche for VCs and other institutions
As we know, early investments made in Web3 projects generally form the crypto whales of tomorrow. LeafScore, specialist in ecological projects, published at the end of January a list of 28 Sustainable Cryptocurrencies That Have Received Funding or partnerships from venture capital (VC) firms or renowned companies in recent months.
It seems that the move followed the big announcement from the European Investment Bank (EIB). On May 17, 2022, it announced the issuance of its first digital bond on the Ethereum blockchain.
This is a green bond of 100 million euros intended to finance climate-related projects. The EIB collaborated with Goldman Sachs, Santander and Société Générale for this operation.
On September 13, the Bitpanda cryptocurrency trading platform launched a carbon offset program called Bitpanda Green. This program allows Bitpanda users to offset the carbon footprint of their cryptocurrency transactions by purchasing carbon credits certified by organizations such as Gold Standard or Verra.
On January 10, 2023, the Swiss start-up Energy Web announced a partnership with the oil giant Shell to develop a blockchain platform dedicated to the management of Renewable Energy Certificates (RECs).
This platform aims to facilitate the exchange and traceability of CERs between producers and consumers of green energy. Energy Web uses its own cryptocurrency. The Energy Web (EWT) token operates on a Proof-of-Authority (PoA) mechanism, which consumes less energy than Proof-of-Work (PoW).
Will projects related to carbon offsetting and recycling lead to a future bull run?
Since the summer of 2022, “green” and energy-efficient blockchain projects have been on the rise. Algorand(ALGO) has received support from Borderless Capital, an investment fund specializing in blockchain projects. Cardano (ADA) received support from EMURGO, a company that provides technology and business solutions for blockchain projects.
Lately, Chia (XCH), has received support from Andreessen Horowitz, probably the most influential VC in Web3. Chia is a blockchain that uses a consensus mechanism based on the Proof-of-Space-Time (PoST). In addition, it uses the unused storage capacity of hard drives instead of computing power. A kind of supercomputer operating almost without energy.
Ecoterra (ECOTERRA)another project, received support from GreenCapital, an investment fund specializing in ecological projects. It is a blockchain ecosystem that aims to encourage users to recycle their waste by offering them rewards in ECOTERRA, a green cryptocurrency.
Ecoterra also offers a recycled materials market. This aims to resell the recycled containers to multinational textile companies and recycling companies. The team has launched its token presale on April 12, 2023. It plans to list its token on exchanges in May.
Several crypto whales invested over $100,000 in USDT in the early hours of the presale. At present, I’ICOs approaching the 2 million mark.
Beyond Ecoterra (ECOTERRA), Venture Capital Firms Interested in Eco-Related Cryptocurrencies. Indeed, they see in them a means of reconciling financial performance and environmental impact. They also recognize the potential for growth and innovation that these projects offer in a booming market.
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