Ether (ETH) rally imminent: Highest data ever!

While some analysts predict that the #Ether (ETH) price could break a record by the end of the year, whales are making eager purchases.

With #Bitcoin (BTC) rising above $106,000 these days, all eyes are on $ETH , the pioneer of altcoins. Analysts predict that $ETH will exceed its all-time high of $4,878.

ETH, which reached $4,100 the other day, has retreated to $4,000 due to increasing selling pressure. Although it fell short of expectations, it seems that ETH has entered the radar of institutions. According to SoSoValue data, $51.13 million in net money inflows were made in spot ETH ETFs the other day.

According to on-chain data platform Santiment, 104 whale wallets hold 57 percent of the entire Ether (ETH) supply. Some of these wallets are thought to be venture capitalists or investment companies.

Santiment showed that an average of 130 thousand Ethereum addresses were created this month. The increase in the assets of whales and the increase in new wallets were interpreted as a bullish signal.

Santiment stated that whales, which dominate 57 percent of the ETH supply, stand on a total of $333 billion in assets,

Stating that 104 wallets hold $333 billion worth of ETH, Santiment made the following statements;

“With the warning that the Ethereum market value consists of DeFi and staking wallets, the accumulation of a coin by large whales is usually a long-term bullish signal.”

According to Santiment, wallets holding between 10 and 100 thousand ETH hold 33.46 percent of the total supply. On the other hand, wallets with less than 100 ETH account for 9.19 percent of the total supply. Despite the accumulation drive of whale wallets of all sizes, the ETH price has never reached its all-time high.

Analysts predict that ETH will set a new record by the end of 2024 or the first quarter of 2025.