- 104 whale wallets now hold 57% of all Ether, which is considered a bullish sign according to Santiment.
- The daily average of new Ethereum addresses crossed 130,200 in December, marking an eight-month high.
- Social sentiment points toward Bitcoin, Vanachains (VANA), and Moca Networks (MOCA) as hot topics currently being discussed.
Santiment, 57% of all Ether is now held by 104 whale wallets. This historic accumulation of Ether by these wallets is being interpreted as a bullish signal for the cryptocurrency.
Ethereum Whale Wallets Reach Record High
In a report published on December 16th, Santiment disclosed that Ethereum whale wallets have reached their highest level ever, accounting for a whopping 57% of all existing Ether. These 104 whale wallets each hold more than 100,000 Ether, collectively amassing about $33.3 billion. Interestingly, wallets holding between 10 and 100,000 Ether are at a historic low of 33.5%, while those holding less than 100 Ether have a supply ratio of just 9.19%, hitting a near four-year low. These trends may be positive indications for the long-term bullishness of Ether, especially if the whales continue to accumulate.
Analysts Predict Surge in Ether Value
This comes as the daily average of new Ethereum addresses crossed 130,200 in December, marking an eight-month high. Moreover, Ether’s price reclaimed the $4000 mark on December 7th for the first time since March and is currently trading at $4007, as per CoinMarketCap. However, it’s still 17% down from its all-time high of $4891 achieved on November 16, 2021. Some analysts are predicting that Ether might surpass its all-time high during the first quarter of 2025, thanks partly to last month’s crypto market deleveraging.
Social Sentiment Bullish for Bitcoin and Niche Altcoins
Santiment, in another report published on December 16th, stated that Bitcoin and Ether’s return above $4000 are causing more bullish narratives. Simultaneously, its social sentiment tracker has highlighted Bitcoin, Vanachains (VANA), and Moca Networks (MOCA) as trending topics currently. Bitcoin is in discussion due to its breach of the record $100,000 high on December 6th for the first time in crypto history and subsequent new highs. Meanwhile, conversations around VANA are centered on its listing on major exchanges, its launch on Binance’s Launchpool, and in the context of escrow transactions and token sales. Moca Networks, on the other hand, has seen a 95% surge in its price over the past week following its listings on major South Korean exchanges, keeping it a hot topic among traders.
Conclusion
The current trend of Ether accumulation by whale wallets, the increasing number of new Ethereum addresses, and the surge in social sentiment for select altcoins all point towards a positive outlook for the cryptocurrency market. As Ether continues to rally, it will be interesting to see how the market responds and whether these bullish signals will indeed lead to an upswing in crypto prices.
