According to the analytics platform Santiment, Ethereum whale wallets have reached historically high levels, indicating a strong bullish signal in the market. Currently, 104 of the largest wallets hold 57% of all ETH, equivalent to roughly $333 billion.
Largest Whales Continue Accumulating
In a post on December 16, Santiment reported that 104 whale wallets holding more than 100,000 ETH each collectively dominate the Ethereum supply.
Mid-sized wallets holding between 10 and 100,000 ETH have dropped to a historic low of 33.5%.
Small wallets with less than 100 ETH now account for only 9.19%, marking a four-year low.
Santiment views this as a long-term bullish signal:
“It’s a positive sign when key stakeholders continue accumulating Ethereum, especially for a 9-year-old asset,” Santiment added.
Ethereum Addresses Reach Eight-Month High
According to Santiment, the average number of new Ethereum addresses has surpassed 130,200 per day in December, marking the highest level in eight months.
ETH Price hit the $4,000 level on December 7 for the first time since March.
Currently, ETH is trading at $4,007, according to CoinMarketCap.
However, Ethereum still remains 17% below its all-time high of $4,891, recorded on November 16, 2021. Analysts predict ETH could surpass this record in Q1 2025, partly due to the crypto market deleveraging over the past month.
Bitcoin and Altcoins Dominate Social Sentiment
In another report on December 16, Santiment noted that Bitcoin's new all-time high of $107,800 and Ethereum’s return above $4,000 have sparked a bullish sentiment.
According to Santiment's social sentiment tracking, the current market discussions focus on:
Bitcoin (BTC) – for breaking the $100,000 milestone for the first time.
Vanachains (VANA) – due to its Binance Launchpool listing and availability on major exchanges.
Moca Networks (MOCA) – whose price surged 95% in the last seven days, fueled by listings on top South Korean exchanges.
Santiment monitors social platforms like X (formerly Twitter) and Telegram to analyze surging mentions of cryptocurrencies compared to the previous two weeks.
Conclusion
The increasing dominance of whale wallets and a sharp rise in new Ethereum addresses suggest a long-term bullish outlook for ETH. Combined with market recovery, these indicators point to Ethereum potentially surpassing its all-time high during Q1 2025. Meanwhile, Bitcoin and selected altcoins remain the center of traders' discussions.
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