Crypto data platform Santiment has revealed the accumulation and dumping trends of whale and shark wallets for top digital assets such as Bitcoin (BTC), Ether (ETH), Tether (USDT), and USD Coin (USDC). The report shows a decline in Bitcoin activity, with the percentage of BTC held by wallets with 10 to 10,000 BTC down 0.40% in the past two months.

However, this decline is not a cause for concern as the long-term accumulation pattern of these market participants is moving northwards. Santiment analysts suggest that large stakeholders are not finding significant opportunities to profit take or accumulate at this time.

In contrast, Ethereum stakeholders have been consistent in accumulating ETH. Over the past 14 months, wallets holding at least 10,000 ETH have accumulated 21.39 million ETH, increasing their balances by 27%. This trend is expected to continue, especially with the recent approval of spot Ethereum exchange-traded funds (ETFs).

Overall, the report suggests a positive outlook for the crypto market, with Ethereum expected to continue gaining on Bitcoin if the accumulation trend persists.