Crypto Whales Signal Market Recovery with Increased Wallet Activity

August saw a surge in the number of large Bitcoin and Ethereum wallets holding significant amounts of cryptocurrency. This indicates that whales, sophisticated investors with sizable positions, are showing renewed confidence in the crypto market. Data reveals an increase of 13 wallets holding over 1,000 BTC, while 48 new wallets now hold more than 10,000 ETH. This pattern often signifies a positive outlook for the market as whales typically enter when anticipating price movements.