Author: Stephen Katte, CoinTelegraph; Translated by: Tao Zhu, Jinse Finance
According to data from the online analytics platform Santiment, the holdings of Ethereum whale wallets have reached an all-time high, accounting for about 57% of the total existing Ethereum.
In an article sent to X on December 16, the platform stated that 104 whale wallets each hold more than 100,000 Ethereum, totaling about $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 be a long-term bullish sign, especially if whales continue to accumulate.
Source: Santiment
Santiment stated: 'It is important to note that the second-largest market cap ETH is increasingly present 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, the daily average number of new Ethereum addresses exceeded 130,200 last December, setting a new high in eight months.
According to CoinMarketCap, Ethereum's price broke 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 the price of Ethereum may break its all-time 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 set a historical high of $107,800, with Ethereum exceeding $4,000, which 'triggered more bullish commentary', but its market sentiment tracking shows that Bitcoin, Vanachains (VANA), and Moca Networks (Moca) are currently hot topics.
Bitcoin is being discussed as it first broke the historical high of $100,000 on December 6, along with subsequent new highs.
Santiment noted: 'Discussion is again focused on Bitcoin's dominance in the cryptocurrency market and its impact on altcoins.'
Currently, discussions are ongoing about VANA's listing on major exchanges, its launch on Binance Launchpool, and the situation of custodial trading and token sales.
Meanwhile, according to Santiment, the price of MOCA surged 95% in the past 7 days after being listed on major exchanges in South Korea, 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 biggest increase in mentions compared to the previous two weeks.
