Ethereum whale wallets now control 57% of the total Ether supply, marking the highest concentration of holdings since Ethereum’s launch in 2015.
Ethereum whale wallets now control 57% of the total Ether supply, marking the highest concentration of holdings since Ethereum’s launch in 2015. According to blockchain analytics platform Santiment, 104 wallets, each holding over 100,000 ETH, collectively account for around $333 billion worth of Ether. Mid-sized wallets containing between 10 and 100,000 ETH have dropped to a historic low of 33.5%, while smaller wallets holding under 100 ETH now account for just 9.19% of the total supply, a figure not seen in nearly four years.
Santiment stated that this level of accumulation by large holders is generally viewed as a bullish long-term signal, particularly for a nine-year-old asset like Ethereum. The recent rise in whale holdings coincides with daily Ethereum address creations surging to 130,200 in December, the highest level in eight months. Ether’s price reclaimed the $4,000 mark on Dec. 7, reaching approximately $4,007. Although still 17% below its all-time high of $4,891 recorded on Nov. 16, 2021, analysts are optimistic that ETH could surpass this peak in the first quarter of 2025, partly due to November’s market deleveraging and increased institutional confidence.
Bitcoin’s rally to a new all-time high of $107,800 on Dec. 16 has fueled broader market optimism. Bitcoin’s breach of the $100,000 milestone earlier this month remains a focal point for discussions, with Santiment’s social sentiment tracker highlighting its dominance. Altcoins like Vanachains and Moca Networks have also garnered attention. VANA’s inclusion on Binance Launchpool and escrow activity were key talking points, while MOCA’s price surged 95% after listings on major South Korean exchanges.
Ethereum’s growing whale dominance has spurred speculation about its long-term trajectory. Wallets holding 100,000 ETH or more now account for the largest share of Ether’s supply ever recorded. Meanwhile, smaller wallet holdings have declined, reflecting shifting ownership dynamics. On Dec. 16, over 108,000 ETH were withdrawn from exchanges, a trend often linked to long-term accumulation.
Market observers are closely monitoring Ethereum’s performance, particularly as it remains integral to decentralized finance and staking. Ethereum recently reclaimed its position as the leading blockchain for Tether (USDT), surpassing Tron for the first time since August 2022. Ethereum’s USDT supply reached $60.3 billion in November, bolstered by a $2 billion mint, compared to $1 billion on Tron. The blockchain also dominates Circle’s USD Coin (USDC) circulation, holding $26.3 billion or approximately 67.5% of its total supply.
While critics warn that increased whale concentration could heighten volatility and reduce liquidity, proponents view the trend as a sign of confidence in Ethereum’s potential. Santiment’s data suggests that whale accumulation has historically preceded significant market moves. Analysts believe maintaining critical price levels could propel Ether into a broader rally by 2025. Bitcoin’s rise and Ethereum’s whale activity continue to shape market sentiment, with altcoins like VANA and MOCA adding further intrigue through their price movements and exchange listings.
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