The heat map is already pointing to the Altseason

The Altcoins market is sending bullish signals and recent data suggest that whales (investors that accumulate large amounts of a cryptocurrency) are positioning themselves for a future upward movement that could give rise to an Altseason.

An analysis published by Cryptoquant reveals The massive and simultaneous output of Altcoins from Binanceconsidered as the largest cryptocurrency exchange today.

Among the Altcoins with the highest exit are ETH, Doge, Shib, who are usually the favorites of investors for their history and relevance in the market. However, others such as ENJ, FT, GHST, SLP, GTC, Link, ILV, 1inch, CRV, SKL, ALICE, UMA, MKR, SNX and AAVE also show an exit flow greater than the entrance.

This exchange output pattern is a classic accumulation indicator. When whales or large investors withdraw their assets from trade platforms, it implies that they do not intend to sell them in the short term, but seek to keep them in the long term, anticipating an increase in value. Less offer in the Exchange tends to reduce the sale pressure and can catalyze a rebound in prices, provided that the demand is maintained or increased.

What is an Altseason and why could it come soon?

A Altcoins Altseason or season is a period in which alternative cryptocurrencies (as cryptocurrencies are known that are not bitcoin) experience a significant and generalized increase in its value, which can exceed BTC performance.

As for signs of a nearby Altseason potential, in addition to the aforementioned by Cryptoquant, there is also what the axel analyst Adler Jr., on the average monthly flow of Altcoins exchange, which was located at USD 1.6 billion to June 27. This figure is below the annual average of USD 2.5 billion and, in previous cycles, when the flows fell below this threshold, Altcoins prices tended to go up marked shortly after.

In addition to this, in cryptootics we report that the Ethereum network has been showing a significant increase in activity. According to Token Metrics data, combining transactions per second in Ethereum and those processed throughout the L2 (second network layers) sector in a personalized graph, more than 16 TPS are being processed, which did not pass since April 2021.

The relationship between the increase in transactions in Ethereum and the Altseason lies in the renewed institutional and retail interest in the network, now that the price of the ETH is rising.