According to blockchain analytics platform Santiment, the amount of Ethereum held by whale wallets has reached an all-time high — holding an estimated 57% of all Ether in existence.
In a December 16 post on X, the platform said 104 whale wallets, each holding more than 100,000 Ether (ETH), collectively own $333 billion.
Meanwhile, wallets holding between 10 and 100,000 Ether are at a record low with a supply ratio of just 33.46%, while wallets holding less than 100 Ether are at just 9.19%, near their lowest level in nearly four years. This could be a sign of long-term growth, especially if whales continue to accumulate more.
“While the second-ranked market is increasingly comprised of DeFi wallets and staking, this is still a long-term positive signal as mainstream investors continue to buy in,” Santiment said.
“Especially when it is a nine-year-old asset with whales holding record amounts,” the platform added.
Analysts Predict Ether to Rise as Wallet Addresses Hit 8-Month High
Meanwhile, the average number of new daily Ethereum addresses surpassed 130,200 in December, marking an eight-month high, according to Santiment.
Ether's price also reclaimed $4,000 on December 7 for the first time since March, and is currently trading at $4,007, according to CoinMarketCap.
The price is still down 17% from its record high of $4,891 reached on November 16, 2021.
Some analysts predict Ether could surpass its record high in the first quarter of 2025, thanks in part to last month's deleveraging of the cryptocurrency market.
Social sentiment towards Bitcoin and niche altcoins
In another post on December 16, Santiment said Bitcoin (BTC) hitting a new record high of $107,800 and Ether reclaiming above $4,000 are “causing more positive stories,” but according to the social media sentiment tracker, Bitcoin, Vanachains (VANA), and Moca Networks (MOCA) are currently the hot topics.
Bitcoin has been in the news for surpassing the all-time high of $100,000 on December 6, for the first time in cryptocurrency history and setting a new record.
“The discussions again focused on Bitcoin Dominance in the crypto market and its impact on altcoins,” Santiment commented.
VANA is being discussed for listing on major exchanges, launching on Binance's Launchpool, and in the margin trading and token sale landscape.
Meanwhile, MOCA's price has increased by 95% in the past seven days, following its listing on major exchanges in South Korea, which has kept it a hot topic among traders, according to Santiment.
Santiment's social tracker combed through crypto-specific social media channels like X and Telegram to find the 10 words with the most significant increases in social mentions compared to two weeks ago.
