Ethereum whale wallets have reached an all-time high saturation, controlling nearly 57% of the entire Ether supply, according to Santiment, an on-chain analytics platform. In their December 16 post on X, the platform pointed out that there are currently 104 whale wallets, each holding more than 100,000 Ether (ETH), collectively valued at around $333 billion.
Wallet Distribution Trends
In stark contrast, the number of wallets containing between 10 and 100,000 Ether has plummeted to a record low of 33.5%. Moreover, those with less than 100 Ether account for only 9.19% of the total supply, the lowest proportion witnessed in nearly four years. These trends might suggest a positive long-term outlook for Ether, especially if the trend of accumulation among whale wallets persists.
Market Outlook and Accumulation
Santiment observed that, while Ethereum’s market capitalization is increasingly influenced by decentralized finance (DeFi) initiatives and staking wallets, the ongoing accumulation by significant investors typically points to optimistic prospects for the long run. This trend is particularly meaningful for a mature asset like Ethereum, which now exhibits a peak in whale ownership.
Recent Trends and Price Movements
Adding to the positive news, December saw the daily average of new Ethereum addresses surpassing 130,200, marking an eight-month peak according to Santiment’s data. Ether’s price recently crossed the $4,000 mark on December 7 for the first time since March, currently at $4,007. However, this figure remains 17% below the all-time high of $4,891 reached on November 16, 2021.
Analysts are optimistic that Ethereum could break its previous record within the first quarter of 2025, fueled by the recent corrections in the crypto market that took place last month.
In another report released on December 16, Santiment highlighted the more favorable market sentiment stemming from Bitcoin’s new all-time high of $107,800 and Ether’s rebound above $4,000. Their analysis pointed to a rising interest in Bitcoin, Vanachains (VANA), and Moca Networks (MOCA). Notably, Bitcoin made headlines after surpassing the $100,000 mark for the first time in crypto history on December 6, sparking discussions about its market dominance and what it means for altcoins.
VANA is gaining traction due to its recent listings on major exchanges and its launch on Binance’s Launchpool, alongside dialogues surrounding escrow transactions and token sales. Meanwhile, MOCA has experienced a staggering 95% price increase over the past week, fueled by its listings on prominent South Korean exchanges, keeping it at the forefront of traders’ discussions.
Santiment employs a social sentiment tracker that compiles data from platforms like X and Telegram to identify the top ten trending terms that have garnered the most mentions in the last two weeks. This dynamic tracking reflects the evolving interests and conversations within the vibrant cryptocurrency market.
Source: Cointelegraph
