The post Whales Accumulate Wrapped Bitcoin (WBTC): Is a Crypto Bull Run Coming? appeared first on Coinpedia Fintech News

Wrapped Bitcoin (WBTC) is making waves with a notable increase in big transactions, as reported by on-chain analytics firm Santiment. This surge hints at a growing interest in WBTC and potential positivity in the crypto market.

But what exactly is driving this newfound enthusiasm for WBTC, and what might it mean for the broader landscape? Let’s delve deeper.

What’s With the Whale Activity?

Santiment tweeted about a rise in WBTC transfers worth over $1 million, hitting levels not seen since March. This suggests a significant uptick in big transactions among WBTC whales, signaling more WBTC being accumulated.

Apart from the whale action, Santiment also noticed substantial growth in the WBTC network, the biggest since July. There’s also an increase in the number of new wallets holding 1 to 1,000 WBTC. These signs indicate a growing interest in WBTC.