Originally published on: December 17, 2024
A recent report from onchain analytics platform Santiment revealed that 104 whale wallets now collectively hold about 57% of all Ether in existence, reaching their highest level ever. These whale wallets, each containing over 100,000 Ether, amount to a staggering $333 billion.
Interestingly, wallets holding between 10 and 100,000 Ether are at a historic low of 33.5%, while wallets with less than 100 Ether have dipped to just 9.19%, nearing a four-year low. This data suggests a potentially bullish sign, especially if the whales continue to accumulate.
According to Santiment, the accumulation of Ether by the largest stakeholders can be seen as a positive long-term signal, despite the increasing dominance of DeFi and staking wallets in the market. This trend is particularly noteworthy because Ether is a 9-year-old asset currently seeing whales holding their highest-ever portion of coins.
As new Ethereum addresses hit an eight-month high in December, surpassing 130,200 daily average, the price of Ether has also surged, reclaiming the $4,000 mark and currently trading at $4,007. While this is a 17% drop from its all-time high of $4,891 in November 2021, some analysts predict that Ether may surpass this peak in the first quarter of 2025.
With Bitcoin setting a new all-time high at $107,800 and Ether crossing the $4,000 mark, the market is brimming with bullish narratives. Social sentiment trackers indicate that discussions are heavily focused on Bitcoin’s dominance, the rise of altcoins like Vanachains (VANA) and Moca Networks (MOCA), and recent developments in the market.
VANA, in particular, has been gaining traction due to its listings on major exchanges and innovative offerings like Binance’s Launchpool. On the other hand, MOCA has witnessed a significant price surge of 95% in the last seven days, following its listings on major South Korean exchanges.
As the crypto market continues to evolve, keeping an eye on whale wallets and their accumulation patterns can provide valuable insights for investors. With Ether on the rise and whales holding a significant portion of the market, the future looks promising for this popular cryptocurrency.
