Originally published on: December 17, 2024
According to Santiment, a leading onchain analytics platform, the number of Ethereum whale wallets has surged to a record high, now accounting for a whopping 57% of the total Ether supply. These 104 whale wallets each hold more than 100,000 Ether, with a combined value of approximately $333 billion.
On the flip side, wallets containing between 10 and 100,000 Ether are at an all-time low of 33.5%, while wallets with less than 100 Ether make up just 9.19% of the supply, marking a near four-year low. This data suggests a bullish trend in the market, especially if the whales continue to accumulate Ether.
Santiment pointed out that despite the rise of DeFi and staking wallets in the market cap rankings, it remains a positive sign when a coin’s largest stakeholders are increasing their holdings. This is particularly significant for a nine-year-old asset like Ether, where whales now control the highest proportion of coins ever.
The surge in whale wallets coincides with a spike in the daily average of new Ethereum addresses, which exceeded 130,200 in December, the highest level in eight months. Additionally, Ether’s price recently crossed the $4,000 mark, currently trading at $4,007, though still down 17% from its peak in November 2021.
Analysts predict that Ether could surpass its all-time high in the first quarter of 2025, fueled in part by the recent crypto market deleveraging. Bitcoin’s new all-time high of $107,800 and Ether’s return above $4,000 are also driving bullish sentiment in the market.
Bitcoin, Vanachain (VANA), and Moca Networks (MOCA) are currently trending topics in the crypto space, according to Santiment’s social sentiment tracker. Discussions around Bitcoin’s dominance and altcoin performance, VANA’s exchange listings and token sales, and MOCA’s price surge on South Korean exchanges are keeping traders engaged.
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