Whale

A "whale" in crypto refers to a holder of a very large position — typically defined as $1M+ in a single asset, though the term scales with the asset. Whales' on-chain transactions are tracked by analytics tools like Glassnode and Whale Alert because their buys and sells can move markets, especially in less-liquid assets.

Whale wallets often represent early adopters, institutional treasuries, or family-office positions accumulated over years.

Why it matters for Milo customers

Many Milo customers are crypto whales — early Bitcoin adopters whose long-held positions have grown into eight or nine figures. For these borrowers, conventional financing options are limited: traditional banks don't underwrite on crypto reserves, and selling triggers massive tax events. Milo's products are specifically built to handle whale-scale collateral pledges and reserves attestations.

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