Ethereum Whale Activity Peaks, Could Signal Long-Term Growth for ETH
Ethereum whale wallets have recently reached a historic milestone, now controlling approximately 57% of all Ether (ETH) in existence. This surge in whale holdings highlights significant developments in Ethereum’s ecosystem, according to on-chain analytics platform Santiment. The increase in Ethereum whale activity is drawing attention from analysts who see it as a potentially bullish indicator for the network’s long-term prospects.
Ethereum Whale Wallets Control $333 Billion in Ether
As of December 16, Santiment reported that 104 Ethereum whale wallets—each holding more than 100,000 ETH—collectively account for around $333 billion worth of Ether. This marks the highest concentration of Ether ever held by whale wallets.
In contrast, wallets holding between 10,000 and 100,000 Ether have hit a historic low, controlling just 33.5% of the total supply. Meanwhile, wallets with less than 100 ETH represent only 9.19% of the total supply, reaching a near four-year low. Santiment interprets this as a potential long-term bullish signal, especially if whale wallets continue accumulating Ether.
“It is generally a bullish long-term signal when a coin’s most prominent key stakeholders continue accumulating,”Santiment noted. “Especially when it’s a 9-year-old asset with whales holding their highest-ever portion of coins.”
Ethereum’s Address Growth: 8-Month High
Another positive sign for Ethereum comes from the increase in the daily number of new Ethereum addresses. According to Santiment, the average daily new addresses crossed 130,200 in December, marking an 8-month high. This uptick in address growth is a promising sign of increased interest and adoption, which could support further price growth for Ether.
Ethereum’s price also saw a notable rebound, surpassing the $4,000 mark on December 7 for the first time since March. As of the latest data from CoinMarketCap, Ethereum is trading at $4,007. Although it is still down 17% from its all-time high of $4,891, set on November 16, 2021, analysts are cautiously optimistic about Ethereum’s potential to exceed this high in the near future. Some predictions suggest that Ethereum could surpass its previous all-time high in Q1 2025, especially following last month’s crypto market deleveraging.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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