A lot of us are confused about the whales behind the altcoin blockchain, for the fact that the ethereum blockchain brought with it the ability for any programmer to make change to the blockchain which has given birth to several developments and new coins, tokens creation so the question is who are the whales behind the altcoin market development.
Well anyone can create a token on Ethereum so I'm not sure what you mean. You did hit on an important point though, these days you have to have a lot of money behind your project if you want to make it. HBAR has a 5 billion dollar developer grant program, NEAR has a 1 billion dollar one, and ICP has a similar grant program. All these projects are backed by VC and are going to make it long term. Will your shitcoin that isn't backed by VC funds make it? probably not.