Only 104 whale wallets currently hold 57.35% of all ETH. This data is provided by#Santimentanalysts. And they consider such a concentration of assets a bullish signal:
“While Ethereum market capital is increasingly comprised of DeFi wallets and the stabilization fund, it is still generally a bullish long-term signal when the most visible key participants continue to accumulate funds.”
Other statistics on asset holders:
- Wallets with 100-100,000 ETH own 33.46% - a historical minimum.
- Wallets with a balance of less than 100 ETH hold 9.19% - a 4-year low.
According to #IntoTheBlock,#ETHhas a strong support level right now - just below the $4,000 level. 7.2 million ETH were bought there, which indicates significant demand. And it should help keep the#ETHprice above the psychological level.
Trader and crypto analyst Ali Martinez (99.8k followers on X) adds, citing#Glassnodedata, that long-term ETH holders are not yet in a state of greed:
"In the last two#Ethereumbull cycles, $ETH went parabolic when long term holders went into greed mode. Right now they are just in the early stages of the belief phase. The big move could still be ahead!"
All these estimates fit into our bullish forecast for#ETHfrom December 12 and our congratulations on the start of the ETH bull run from November 25, after which the asset at its peak grew by 20%.
What can I add to those layouts? The asset is now where BTC was at the end of October. The chart shows the same global "Cup with Handle", the working out of which will lead the price to $7,000.
