Reports have surfaced indicating that crypto whales are engaging in large transactions and accumulating substantial amounts of cryptocurrencies. Lookonchain, a blockchain analytics platform, has observed a wallet allegedly owned by Tron founder Justin Sun amassing significant amounts of Ethereum (ETH) over several weeks.

Notably, this is not the only significant whale activity seen recently. Anonymous investors are purchasing large quantities of ETFS tokens at a low price, suggesting a shift of interest from Bitcoin (BTC) to alternative cryptocurrencies like Ethereum (ETH) and projects such as ETFSwap.

The movement of these whales suggests a growing investor confidence in Ethereum (ETH) over Bitcoin (BTC) as the market conditions hint at a potential surge in altcoin prices.