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Ethereum Whales Accumulating, Bitcoin Futures Send a Sign

Both bitcoin (BTC) and ethereum (ETH), the first and second most valuable cryptoassets by market capitalization, may be about to see a surge in interest from investors, new data suggests.

According to research from 
Santiment, a behavior analytics platform for cryptocurrencies, the 100 largest ethereum holders in the world are once again accumulating more ETH tokens relative to the total ETH supply, a potentially bullish sign for the asset.

According to the firm, the current accumulation is particularly noteworthy because it has happened during a period of lower prices for most cryptoassets. This suggests that the largest stakeholders are considering the asset to be “undervalued and believe it’s a great mid to long-term hold play,” the firm wrote in a Twitter thread while adding: “Sometimes these price rises take a bit of time after this accumulation rises, but it is generally a good sign for ethereum bulls.”