The cryptocurrency market is buzzing with optimism as onchain analytics reveal that 104 whale wallets now hold a staggering 57% of all Ether (ETH) in circulation. According to recent data from Santiment, these whale wallets together contain approximately $333 billion worth of Ether, marking a significant milestone in the crypto landscape.
This growing concentration of Ether in whale wallets signals potential bullish trends for the cryptocurrency as analysts predict that Ether may surpass its all-time high, expected in the first quarter of 2025. Some data points to a surge in new Ethereum addresses created in December, averaging around 130,200 daily, the highest in eight months.
As we dive deeper into the details, it is important to note that whale wallets are defined as those holding more than 100,000 ETH. Meanwhile, wallets with balances below 100 ETH have plummeted to a near four-year low, signaling a shift in market dynamics. This accumulation by major stakeholders reflects investor confidence and suggests that Ether is positioned for long-term growth.
- Whale wallets now hold: 57% of all Ether
- Total number of whale wallets: 104
- Ethereum price recovery: Reclaimed the $4,000 mark on December 7
- Historical lows: Wallets under 100 ETH at just 9.19%
Moreover, Santiment highlights that as Ethereum’s price has recently climbed back to around $4,007, which is still 17% below its previous all-time high of $4,891 reached in November 2021, social sentiment regarding Ethereum and Bitcoin is shifting. With Bitcoin hitting a new milestone of $107,800, discussions around its dominance are fueling a broader bullish narrative that also covers promising altcoins like VANA and MOCA.
Looking forward, many analysts remain cautiously optimistic about Ether’s trajectory. The concentration of holdings in whale wallets, coupled with the spike in new address creation, paints a promising picture for Ether’s future, especially as these trends indicate a robust accumulation phase. The interaction between whale behavior and market pricing will be crucial to monitor in the upcoming months.
