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On-chain data shows increased accumulation from Bitcoin and Ethereum whales despite market-wide bearish momentum. 
According to data provided by IntoTheBlock, the number of large Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank">BTC</a>) and Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank">ETH</a>) transactions, worth at least $100,000, started to increase on Sept. 1 after a set of constant declines in the last week of August.&nbsp; 
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 <img loading="lazy" decoding="async" width="1200" height="800" src="https://crypto.news/app/uploads/2024/09/ITB_btc_number_of_large_transactions_bitcoin_2024-09-04T08_24_13.568Z.png" alt="Bitcoin, Ethereum whales accumulate despite market-wide selloff - 28" class="wp-image-14295850">
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 BTC whale transactions – Sept. 4 | Source: <a href="https://app.intotheblock.com/" target="_blank">IntoTheBlock</a>
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</figure> 
The number of large BTC transactions surged from 13,100 on Sept. 1 to 18,000 on Sept. 3. Ethereum witnessed a similar momentum. Whale transactions consisting of at least $100,000 worth of ETH rose from 2,150 on Aug. 31 to 4,530 on Sept. 3, per ITB data. 
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 <img loading="lazy" decoding="async" width="1200" height="800" src="https://crypto.news/app/uploads/2024/09/ITB_eth_number_of_large_transactions_ethereum_2024-09-04T08_24_21.865Z.png" alt="Bitcoin, Ethereum whales accumulate despite market-wide selloff - 29" class="wp-image-14295851">
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 ETH whale transactions – Sept. 4 | Source: <a href="https://app.intotheblock.com/" target="_blank">IntoTheBlock</a>
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Data shows that <a href="https://crypto.news/whale-buys-2000-bitcoin-in-4-days-now-holds-490m-in-btc/" target="_blank">whales</a> have also started moving the largest <a href="https://crypto.news/ukrainian-scam-fake-police-officers-demand-250k-in-stablecoin/" target="_blank">stablecoin</a> by market cap, Tether (<a href="https://crypto.news/price/tether/" target="_blank">USDT</a>). According to data from ITB, the number of large USDT transactions increased from 2,260 on Aug. 31 to over 5,000 on Sept. 3. 
 You might also like: <a rel="" href="https://crypto.news/ethereum-activity-hit-aths-as-fees-plunge-99/"> Ethereum activity hit ATHs as fees plunge 99% </a> 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="1200" height="800" src="https://crypto.news/app/uploads/2024/09/ITB_usdt_number_of_large_transactions_ethereum_2024-09-04T08_24_31.194Z.png" alt="Bitcoin, Ethereum whales accumulate despite market-wide selloff - 30" class="wp-image-14295852">
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 USDT whale transactions – Sept. 4 | Source: <a href="https://app.intotheblock.com/" target="_blank">IntoTheBlock</a>
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</figure> 
On Sept. 3, the two largest cryptocurrencies witnessed exchange net outflows of 7,290 BTC and 71,370 ETH, worth over $585 million combined. This movement shows increased accumulation while the broader crypto market is wandering in uncertainty. 
On the other hand, USDT registered roughly $66 million in exchange net inflows on the same day. Usually, rising stablecoin inflows into centralized exchanges could hint at increased <a href="https://crypto.news/spot-btc-etf-outflows-touch-4-month-highs-price-falls-below-57k/" target="_blank">Bitcoin</a> and altcoin purchases. 
Per a crypto.news report, over $1 billion worth of BTC <a href="https://crypto.news/over-1b-worth-of-bitcoin-left-exchanges-in-7-days/" target="_blank">left the exchanges</a> between Aug. 26 and Sept. 2.&nbsp; 
Today, both Bitcoin and Ethereum faced a downward momentum. BTC fell by 3.5% and is trading at $56,700 at the time of writing. ETH slipped 4% and is currently trading at $2,400. 
 Read more: <a rel="" href="https://crypto.news/trump-family-x-accounts-hacked-to-push-crypto-scam/"> Trump family X accounts hacked to push crypto scam </a>

Bitcoin, Ethereum whales accumulate despite market-wide selloff

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