According to data from Santiment, the amount of Ethereum (ETH) held by whale wallets has reached an all-time high, accounting for around 57% of the total ETH supply.
According to data from Santiment, the amount of Ethereum (ETH) held by whale wallets has reached an all-time high, currently accounting for around 57% of the total ETH supply. This is seen as evidence of the strong accumulation trend by large investors, which could have a positive long-term impact on the value of ETH.
According to the report, there are currently 104 whale wallets holding more than 100,000 ETH each, with a total estimated value of around $333 billion. In contrast, the number of wallets holding between 10 and 100,000 ETH has dropped to a record low, accounting for only 33.5%, while small wallets holding less than 100 ETH now account for only 9.19% of the total supply, the lowest level in nearly four years. These changes reflect the growing importance of large investors in the Ethereum market.
The latest data shows that the buying pressure on ETH has not yet subsided. The BlackRock Ethereum ETF $ETHA is showing a strong demand for accumulating large amounts of ETH, as the Fund has currently accumulated 1 million Ethereum ETH.
Furthermore, the average number of new Ethereum addresses created per day has also reached the highest level in the past 8 months, with 130,200 new addresses created daily in December. This reflects the growing interest in Ethereum, not only from institutional investors but also from new users entering the market.
The price of ETH has reached $4,000 for the first time since March this year, hitting $4,000 on December 7th, and is currently trading around $4,005, according to data from CoinMarketCap. However, the ETH price is still 18% lower than the all-time high of $4,891 set in November 2021. Some experts predict that ETH could reach a new all-time high in the first quarter of 2025, thanks to the recent trend of decreasing leverage in the crypto market.
Additionally, Santiment has also noted lively discussions in the community related to Bit and some altcoins like Vanachains (VANA) and Moca Networks (MOCA). Bit, after breaking the $100,000 mark on December 6th, continues to be the center of attention and the most discussed topic. The BTCD of Bit on the crypto market is expected to have a strong impact on the performance of altcoins in the coming period.
