The Ethereum price has surpassed the $4,000 level with a remarkable increase in the last 24 hours. Ethereum, which has increased by over 9% on a weekly basis, has attracted great interest among investors. While on-chain indicators point to the potential for this rise to continue, analysts predict that Ethereum could soon see new highs. The positive momentum in the market has made ETH more attractive to investors.
Blockchain analytics platform Santiment reported that the number of large-scale ETH wallets has reached 104. The amount of Ethereum held in these wallets accounts for 57.35% of the total supply, with a total value of approximately $333.1 billion. In addition, 92% of these large investors are currently in the money. Interestingly, while the influence of small wallets on the market has diminished, the accumulation of Ethereum by large players is seen as a significant sign of the price increase. The market share of small wallets has also fallen to historical lows, indicating an increasing dominance of whales. On-chain data suggests that Ethereum could test the $5,000 level in the coming period.
According to technical analysis, Ethereum’s weekly close above $3,800 reinforces the uptrend. Analysts noted that ETH could reach new highs with classic bullish patterns such as the “cup and handle” formation. In addition, analysis on the ETH/BTC pair also shows similar bullish signals.
Bitcoin (BTC)$BTC
and Ethereum, which has provided higher returns than other cryptocurrencies such as Solana, has shown a remarkable performance in the last 30 days. In addition, it is thought that interest in Ethereum has increased in the altcoin market and this trend may strengthen Ethereum's market dominance.
According to the latest price data, Ethereum is trading at $4,005. While Ethereum's market value reached $482 billion, its 24-hour trading volume was $80 billion. The positive atmosphere prevailing in the cryptocurrency market has created great expectations among Ethereum investors.
