Ethereum

Pudgy Penguins

Pepe Unchained

Daily

Data from the on-chain analytics platform Santiment shows that 104 whales now hold around 57% of ETH’s total supply as the daily average of new Ethereum addresses hits an 8-month high.
Each of the 104 whale wallets hold more than 100,000 ETH, totalling $333 billion collectively, Santiment said in a Dec. 16 X <a href="https://x.com/santimentfeed/status/1868814689657893362" rel="noopener noreferrer nofollow">post</a>.
<img decoding="async" src="https://watcher.guru/news/wp-content/uploads/2024/03/62703bab.jpg" alt="Ethereum Dormant Whale Moves 10,000 ETH As Price Crosses $3,800">
<h2 id="span-style-font-weight-400-whale-accumulation-of-eth-could-be-a-long-term-bullish-sign-span">Whale Accumulation Of ETH Could Be A Long-Term Bullish Sign</h2>
While the 104 wallets now hold the majority of ETH’s supply, other wallet metrics have dropped to historic lows. In its X post, Santiment noted that the number of wallets holding between 10 and 100,000 ETH has reached a low of 33.46%. Meanwhile, the supply ratio of wallets holding less than 100 <a href="https://insidebitcoins.com/news/bitwise-predicts-bitcoin-will-top-200k-in-2025-ethereum-and-solana-to-set-new-all-time-highs" rel="noopener noreferrer nofollow">ETH</a> has plunged to a 4-year low as well.
Despite the recent lows recorded by these wallet metrics, Santiment said it’s “still generally a bullish long-term signal when a coin’s most prominent key stakeholders continue accumulating.”&nbsp;
“Especially when it’s a 9-year-old asset with whales holding their highest-ever portion of coins,” the platform added.
<h2 id="span-style-font-weight-400-daily-average-of-new-ethereum-addresses-hits-8-month-high-to-signal-renewed-investor-interest-span">Daily Average Of New Ethereum Addresses Hits 8-Month High To Signal Renewed Investor Interest</h2>
The ETH accumulation by whales comes after the daily average of new addresses on the <a href="https://insidebitcoins.com/news/nft-collection-floor-prices-rise-on-ethereum-blur-me" rel="noopener noreferrer nofollow">Ethereum</a> network surpassed 130,200 this month. This marks an 8-month high, according to Santiment.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 📈 Ethereum is seeing an 8-month high level of new wallets created. With an average of 130.2K addresses newly popping up on the network every day so far in December, ETH is seeing renewed interest it hasn't seen since April. <a href="https://t.co/sLPy8yeWtl" rel="noopener noreferrer nofollow">pic.twitter.com/sLPy8yeWtl</a>
 — Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1867662604010701047?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 13, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
This renewed interest in the leading altcoin enabled ETH to rise back above the $4,000 mark on Dec. 7 for the first time since March. ETH has since established a position above this major price point to <a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow">trade</a> at $4,014.07 as of 1:18 a.m. EST.
ETH’s price has lagged in the latest altcoin market surge, with many smaller cryptos like Solana (SOL) and Ripple (XRP) stealing the limelight. However, analyst Benjamin Cowen believes this is “fairly normal behavior for ETH.”
In a Dec. 5 X <a href="https://x.com/intocryptoverse/status/1864565370914259437" rel="noopener noreferrer nofollow">post</a>, he noted that ETH lagged in the last cycle as well and “did not put in a new All-Time-High until January of the post-halving year.” He subsequently predicted that ETH could go up in 2025.
<h3 id="span-style-font-weight-400-related-articles-span">Related Articles:</h3>
<ul>
 <li style="font-weight: 400"><a href="https://insidebitcoins.com/news/wall-street-pepe-presale-zooms-past-25-8m-in-12-days-as-whales-dive-in-will-it-1900000x-like-pepe" rel="noopener noreferrer nofollow">Wall Street Pepe Presale Zooms Past $25.8M In 12 Days As Whales Dive In</a></li>
 <li style="font-weight: 400"><a href="https://insidebitcoins.com/news/trending-meme-coin-pepe-unchained-lists-on-cexs-as-pepu-readies-2x-rewards-for-stakers" rel="noopener noreferrer nofollow">Trending Meme Coin Pepe Unchained Lists On CEXs</a></li>
 <li style="font-weight: 400"><a href="https://insidebitcoins.com/news/binance-sets-to-list-pudgy-penguins-nft-coin-pengu-today-dec-17" rel="noopener noreferrer nofollow">Binance Sets To List Pudgy Penguins NFT Coin</a></li>
</ul>

104 Crypto Whales Hold 57% Of Total ETH Supply As The Daily Average Of New Ethereum Addresses Reaches 8-Month High, Santiment Says

Table of Contents

Inside Bitcoins

Other articles published on Dec 17, 2024

HyperLiquid HYPE Token Launch: Everything You Need to Know

Details of Report That Made Singapore a Crypto Industry Titan Globally Ahead of the U.S

Binance Alpha: Discover the Future of Crypto Projects

BREAKING 🚨

Qubetics Raises $6.8M, Hedera Partners with Deloitte, and Cronos Implements Token Burn Strategy –...

Trump-Backed Crypto Project Spends $45M on Crypto Investments: Report

Join our free newsletter for daily crypto updates!