A selected group of influential players, known as whales, have been making waves in the market. These whales, possessing vast amounts of digital assets, have the power to shape the market's direction, causing ripples that can either sink or swim the fortunes of traders. To uncover the secrets of these market movers, analysts at Santiment, a leading crypto data platform, have been tracking the accumulation and dumping trends of whale and shark wallets for top digital assets like bitcoin (BTC), ether (ETH), Tether (USDT), and USD Coin (USDC).

According to Santiment's report, the key stakeholders, or whales, are wallets holding more than $100,000 in value, with the exception of BTC and ETH, which have ultra-large market capitalizations. The analysis reveals that bitcoin whale activity has been on the decline, with the percentage of bitcoin held by wallets with 10 to 10,000 BTC slipping 0.40% in the past two months. Additionally, the total collective of BTC held by these market participants has decreased by 0.21% within the same timeframe.

However, this decline is not a major cause for concern, as the long-term accumulation pattern of these whales is still moving upwards when viewed over the past six months. This suggests that large key stakeholders are simply not finding significant opportunities to profit take or accumulate at present. Meanwhile, Ethereum stakeholders have been persistently accumulating ETH, with wallets holding at least 10,000 ETH increasing their balances by 27% over the past 14 months. The recent approval of spot Ethereum exchange-traded funds (ETFs) has further fueled this accumulation trend, with daily ETH transfers worth more than $10,000 and $1 million experiencing a notable spike.

In addition, the total collective USDT held by wallets with $100,000 to $10 million in Tether has decreased by 5.55% in the past two months, while that of USDC has increased by 11.45% within the same timeframe. This accumulation of USDC, although not making up for the continued dumping of USDT, implies growing buying power. As the market continues to evolve, it will be interesting to see how these trends unfold and whether Ethereum will continue to gain on Bitcoin by percentage if the wallets holding more than 10,000 ETH maintain their accumulation trajectory. One thing is certain – the activities of these crypto whales will remain a crucial factor in shaping the market's future.