The number of enormous transactions within Ethereum has spiked over the past few days, indicating that activity by some of its biggest investors is turning back on. Over $100,000 in ETH is moving in one transaction in amounts not seen since the end of March, data from IntoTheBlock shows. This is being considered a strong indication of returning whale activity in the cryptocurrency market.

More insight from IntoTheBlock points toward these transactions being more about accumulation than liquidation. The holdings of addresses holding at least 0.1% of the total Ether supply are seeing the biggest day-on-day increase in a month.

This trend in whale accumulation can be considered a positive outlook on price potential of Ethereum. As big holders continue increasing their position, it could then be a reflection of more general confidence in future cryptocurrency value, therefore probably fostering another round of market upswings.

IntoTheBlock