The post Ethereum Whales Now Control 57% of All Ether: What’s Next? appeared on BitcoinEthereumNews.com.

This holding marks the highest level of whale dominance since Ethereum’s inception in 2015. In total, these 104 wallets collectively hold a jaw-dropping $333 billion worth of Ether. Big whales are making waves in the Ethereum ocean. Whale wallets—those holding over 100,000 Ether—now control a staggering 57% of all ETH in existence, according to recent data from Santiment. Source: Santiment While the whales are stacking up more Ether, smaller investors seem to be losing ground. Wallets containing between 10 and 100,000 Ether have dwindled to 33.46%, their lowest point in history. On the other end of the spectrum, wallets with under 100 Ether now hold only 9.19% of the total supply—a figure not seen in nearly four years. “wallets with 100-100K hold their lowest ratio of supply in history, 33.46%. And sub-100 ETH wallets hold a near 4-year low of 9.19%,” said Santiment. Santiment sees the current trend as a potential bullish indicator. Historically, when major stakeholders accumulate significant amounts of cryptocurrency, the market often responds with upward momentum. Ethereum’s nine-year trajectory supports this observation, with whale accumulation frequently preceding notable price increases. “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,” said Santiment. Ethereum Activity Surges: 130,200 New Addresses According to Santiment, December brought more than just whale news. The daily average of new Ethereum addresses surpassed 130,200, marking an eight-month high. This surge in new addresses indicates growing interest and participation in the Ethereum ecosystem, even as large holders dominate supply. Source: Santiment On December 7, Ether’s price reclaimed $4,000 for the first time since March. According to Brave New Coin’s Ethereum Liquid Index, ETH hit $4,016, closing in on levels not seen since…

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Filed under: News - @ December 18, 2024 12:28 am