Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
104 whale wallets control 57% of all Ether in a bullish signal

104 whale wallets control 57% of all Ether in a bullish signal

GrafaGrafa2024/12/17 12:40
By:Mahathir Bayena

Ethereum's (CRYPTO:ETH) whale wallets now control 57% of the total Ether supply, according to on-chain analytics firm Santiment.

The platform reported on December 16 that 104 whale wallets, each holding over 100,000 Ether, now hold an estimated $333 billion worth of the cryptocurrency.

This marks the highest level of Ether concentration in whale wallets to date.

Meanwhile, wallets holding between 10,000 and 100,000 Ether have decreased to a historic low of 33.46%, while wallets with less than 100 Ether represent just 9.19% of the total supply.

Santiment stated that this increasing dominance of whale wallets could be a long-term bullish sign for Ether.

"It is still generally a bullish long-term signal when a coin’s most prominent key stakeholders continue accumulating. Especially when it’s a 9-year-old asset with whales holding their highest-ever portion of coins," Santiment explained.

Along with this, Santiment highlighted a rise in Ethereum wallet activity, noting that the daily average of new Ethereum addresses surpassed 130,200 in December.

This marks an 8-month high for the network.

Ethereum's price also saw a positive trend, reaching the $4,000 mark on December 7 for the first time since March.

The current price of Ether is $4,007, though it is still 17% below its all-time high of $4,891, which was reached in November 2021.

Analysts predict that Ethereum could potentially surpass its all-time high in early 2025, fueled in part by recent market changes.

Santiment also noted a shift in social sentiment, with Bitcoin (CRYPTO:BTC), Vanachains (VANA), and Moca Networks (MOCA) becoming popular discussion topics among crypto enthusiasts.

At the time of reporting, the price of Ethereum (ETH) was $4,025.56.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like