Outside Source
Some analysts predict Ether could surpass its all-time high during the first quarter of 2025, while Santiment shows an average of 130,000 Ethereum addresses were created this month.
News
Ethereum whale wallet holdings have reached their highest levels of all time — holding an estimated 57% of all Ether in existence, according to onchain analytics platform Santiment.
In a Dec. 16 post to X, the platform said that 104 whale wallets holding more than 100,000 Ether (ETH) each, together hold $333 billion.
At the same time, wallets holding between 10 and 100,000 Ether are at a historic low of 33.46%, and wallets holding less than 100 Ether have a supply ratio of just 9.19%, hitting a near four-year low as well, which could be a long-term bullish indication, especially if the whales keep accumulating more.
“With the caveat that the #2 market cap is increasingly comprised of DeFi and staking wallets, it is still generally a bullish long-term signal when a coin’s most prominent key stakeholders continue accumulating,” said Santiment.
“Especially when it’s a 9-year-old asset with whales holding their highest-ever portion of coins,” it added.
Analysts predict Ether to rise as wallet addresses hit 8-month high
It comes as the daily average of new Ethereum addresses crossed 130,200 in December, marking an eight-month high, according to Santiment.
Ether’s price also reclaimed the $4,000 mark on Dec. 7 for the first time since March and is currently trading at $4,007, according to CoinMarketCap.
It’s still 17% down from its all-time high of $4,891, which hit on Nov. 16, 2021.
Related: ETH, LINK, AAVE and BGB move higher as Bitcoin inches toward new all-time high
Some analysts predict Ether could surpass its all-time high during the first quarter of 2025, thanks partly to last month’s crypto market deleveraging.
Social sentiment points toward Bitcoin and niche altcoins
In a separate Dec. 16 post, Santiment said Bitcoin’s (BTC) new $107,800 all-time high and Ethers return above $4,000 are “causing more bullish narratives,” but its social sentiment tracker shows Bitcoin, Vanachains (VANA), and Moca Networks (MOCA) are hot topics at the moment.
Bitcoin is being discussed due to its breach of the record $100,000 high on Dec. 6 for the first time in crypto history and subsequent new highs.
“Discussions once again are focused on Bitcoin’s dominance in the cryptocurrency market and its impact on altcoins,” Santiment noted.
VANA is being discussed regarding its listing on major exchanges, its launch on Binance’s Launchpool, and in the context of escrow transactions and token sales.
Meanwhile, MOCA’s price surged 95% in the last seven days, following its listings on major South Korean exchanges, which has kept it a hot topic among traders, according to Santiment.
Santiment’s social tracker trawls through crypto-specific social media channels such as X and Telegram for the top 10 words that have seen the most significant increase in social media mentions compared to the previous two weeks.
Magazine: 13 Christmas gifts that Bitcoin and crypto degens will love
This article first appeared at Cointelegraph.com News
