Originally published on: December 17, 2024
In a recent report from Santiment, it has been revealed that a total of 104 whale wallets now hold approximately 57% of all Ether in circulation. These whale wallets, each with more than 100,000 Ether, collectively account for a staggering $333 billion in value.
On the flip side, wallets holding between 10 and 100,000 Ether are at a historic low of 33.5%, while those with less than 100 Ether make up just 9.19% of the total supply, marking a near four-year low. This accumulation by whales could be a positive long-term signal for Ethereum, especially if the trend of accumulation continues.
Santiment emphasized the importance of this accumulation, stating, “It is generally a bullish long-term signal when a coin’s most prominent key stakeholders continue accumulating, especially when it’s a 9-year-old asset with whales holding their highest-ever portion of coins.”
The surge in whale wallet holdings comes at a time when the daily average of new Ethereum addresses has reached an eight-month high, with over 130,200 new addresses added in December. Additionally, Ether’s price has recently crossed the $4,000 mark, currently trading at $4,007, although it remains 17% below its all-time high of $4,891.
Analysts predict that Ether may exceed its previous all-time high in the first quarter of 2025, attributing this potential growth to the recent market deleveraging in the crypto space.
While Bitcoin’s new all-time high and Ether’s resurgence above $4,000 are sparking bullish sentiments in the crypto community, Santiment’s social sentiment tracker indicates that Bitcoin, Vanachains (VANA), and Moca Networks (MOCA) are the trending topics of discussion.
Bitcoin’s dominance in the market and its impact on altcoins, VANA’s recent listings on major exchanges, and MOCA’s price surge following listings on South Korean exchanges are dominating conversations in the crypto space.
Overall, the data from Santiment’s report suggests that whale accumulation of Ethereum is a positive indicator of long-term growth and stability in the cryptocurrency market. Stay tuned for more updates on the latest trends and developments in the blockchain and crypto industry.
