Currently, 104 wallets hold at least 100,000 ETH (~$400 million). Their combined balance of 83.81 million ETH (~$333.1 billion) is equivalent to a record 57.35% of the Ethereum supply, according to Santiment.

The share of addresses holding between 100 and 100,000 ETH has reached a historic low of 33.46%.

Wallets with balances of less than 100 ETH account for 9.19% of the issuance — the lowest level since January 2021.

Assuming that an increasing number of addresses are involved in staking and DeFi, the current market structure with ongoing accumulation of coins by large investors represents a long-term bullish signal, analysts at Santiment believe.

Recall that VanEck predicted the second largest cryptocurrency to be $6000, Bitwise at $7000, and CryptoQuant above $5000. #2024withBinance $XRP $SOL $TRX