Ethereum whales’ assets have reached an all-time high. According to data from Santiment, major players currently represent 57% of all ETH in circulation. In total, 104 wallets, each holding more than 100,000 ETH, together hold approximately $333 billion worth of Ether. This may indicate long-term bullish sentiment, especially if these whales continue to accumulate.
Small wallets at historic lows
In contrast to the big players, smaller wallets are at an all-time low. Wallets holding between 10 and 100,000 ETH now hold just 33.5%, while addresses holding less than 100 ETH hold just 9.19% of the total supply. This is the lowest level in almost four years. This pattern suggests that major players are strengthening their positions, a potentially positive signal for the long term.
Santiment emphasizes that this development is extra relevant due to the nature of ETH. Ethereum is increasingly locked into DeFi protocols and staking contracts.
“It is a strong signal that key stakeholders continue to increase their holdings, especially for an asset that has been around for nine years,” Santiment said.
New Ethereum addresses indicate growing adoption
In addition to the accumulation by whales, Ethereum is also seeing notable growth in the number of new addresses. The daily average of new Ethereum addresses crossed 130,200 in December, the highest level in eight months. This increase indicates increasing interest and adoption of Ethereum.
What does this mean for the ETH price?
ETH is currently trading above the psychological barrier of $4,000, a level not reached since March. Although the current price is still almost 20% below the all-time high of $4,891 from November 2021, there is plenty of reason for optimism.
If positive market sentiment continues, Ethereum could reach new highs in the first quarter of 2025. According to Santiment, Bitcoin’s (BTC) recent all-time high and ETH’s recapture of $4,000 could set off further price gains in the coming weeks and months.
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Source: https://newsbit.nl/ethereum-whales-bezitten-recordaandeel-57-van-alle-eth-in-omloop/
