Currently, 104 wallets each hold at least 100,000 ETH (~$400 million). Their combined balance of 83.81 million ETH (~$333.1 billion) represents a record 57.35% of the Ethereum supply, according to Santiment.
? There are currently 104 whale wallets holding at least 100K Ethereum. Their combined holdings currently sit at 57.35% of all existing ETH tokens, currently worth ~$333.1B.
Meanwhile, wallets with 100-100K hold their lowest ratio of supply in history, 33.46%. And sub-100 ETH… pic.twitter.com/9qDN3lotQy
— Santiment (@santimentfeed) December 17, 2024
The share of addresses holding between 100 and 100,000 ETH has reached a historic low of 33.46%.
Wallets with balances under 100 ETH account for 9.19% of the supply — the lowest level since January 2021.
Assuming that more addresses are engaged in staking and DeFi, the current market structure with continued accumulation by large investors is seen as a long-term bullish signal, according to Santiment analysts.
Earlier, VanEck predicted the second-largest cryptocurrency by market cap to reach $6,000, Bitwise forecasted $7,000, and CryptoQuant anticipated above $5,000.
In early December, CoinDesk analyst Omkar Godbole noted the formation of a bullish pattern on the asset’s chart, which preceded Bitcoin’s November rally.
An analyst known as VentureFounder identified a “cup and handle” pattern in Ethereum, indicating a rise to $7,200 within four months.