Author: Stephen Katte, CoinTelegraph; Translated by: Tao Zhu, Jinse Finance
According to data from online analysis platform Santiment, the holdings of Ethereum whale wallets have reached an all-time high, accounting for about 57% of the total existing Ethereum supply.
In an article sent to X on December 16, the platform stated that 104 whale wallets each hold over 100,000 Ethereum, totaling approximately $333 billion.
Wallets holding 10 to 100,000 Ethereum are at a historical low of 33.5%, while the supply ratio of wallets holding less than 100 Ethereum is only 9.19%, reaching a near four-year low, all of which could indicate a long-term bullish sign, especially if whales continue to accumulate.
Source: Santiment
Santiment stated: 'It's worth noting that the second-largest market cap ETH is increasingly found in DeFi and staking wallets, which is typically still a bullish long-term signal when the most important primary stakeholders of the token continue to accumulate.'
It added: 'Especially when it is an asset that has been around for 9 years, the proportion of tokens held by whales has reached an all-time high.'
Analysts predict that Ethereum will rise as wallet addresses reach an 8-month high.
According to Santiment, in December last year, the average daily number of new Ethereum addresses exceeded 130,200, setting an 8-month high.
According to data from CoinMarketCap, Ethereum's price surpassed the $4,000 mark for the first time since March on December 7, with the current trading price at $4,007.
Currently down 17% compared to the all-time high of $4,891 set on November 16, 2021.
Some analysts predict that Ethereum's price may break its historical high in the first quarter of 2025, partly due to the deleveraging in the crypto market last month.
Market sentiment points to Bitcoin and altcoins.
In another article on December 16, Santiment stated that Bitcoin reached an all-time high of $107,800, with Ethereum surpassing $4,000, which 'triggered more bullish remarks,' but its market sentiment tracking shows that Bitcoin, Vanachains (VANA), and Moca Networks (Moca) are currently hot topics.
Bitcoin is being discussed due to its first breakthrough of $100,000 on December 6, marking a historic high, and the subsequent new highs.
Santiment noted: 'The discussion has once again focused on Bitcoin's dominance in the cryptocurrency market and its impact on altcoins.'
There is currently discussion about VANA's listing on major exchanges, its release on Binance Launchpool, as well as the status of custody trading and token sales.
Meanwhile, according to Santiment, after MOCA was listed on major exchanges in South Korea, its price surged by 95% in the past 7 days, making it a hot topic among traders.
Santiment's social tracker searches specific cryptocurrency social media channels like X and Telegram for the top 10 words with the most significant increase in mentions compared to the previous two weeks.
