Originally published on: December 17, 2024
In a recent report by Santiment, it has been revealed that Ethereum whale wallets now hold a staggering 57% of all Ether in existence. With 104 whale wallets each containing over 100,000 Ether, the collective value amounts to around $333 billion. This accumulation by the whales is seen as a bullish signal for the long term trajectory of Ether’s price.
According to Santiment, wallets holding between 10 and 100,000 Ether are at a historic low of 33.5%, while wallets with less than 100 Ether make up just 9.19%, hitting a four-year low. This shift in distribution could indicate a potential price surge, especially if the whales continue to accumulate.
Santiment noted, “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.”
This news comes as the daily average of new Ethereum addresses surpassed 130,200 in December, reaching an eight-month high. Ether’s price has also surged past the $4,000 mark, currently trading at $4,007, though it remains 17% below its all-time high of $4,891.
Analysts predict that Ether may surpass its previous all-time high in the first quarter of 2025, fueled in part by last month’s crypto market deleveraging. Bitcoin and Ether are dominating discussions, with VANA and MOCA also gaining attention for recent developments and price movements.
As the crypto market continues to evolve, the actions of whale wallets and the distribution of Ether among different holders serve as key indicators for investors to monitor. Keep an eye on Santiment’s reports for the latest insights into market trends and potential price movements.