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

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


post.

Whale
Accumulation
Of
ETH
Could
Be
A
Long-Term
Bullish
Sign

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


ETH

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.” 

“Especially
when
it’s
a
9-year-old
asset
with
whales
holding
their
highest-ever
portion
of
coins,”
the
platform
added.

Daily
Average
Of
New
Ethereum
Addresses
Hits
8-Month
High
To
Signal
Renewed
Investor
Interest

The
ETH
accumulation
by
whales
comes
after
the
daily
average
of
new
addresses
on
the


Ethereum

network
surpassed
130,200
this
month.
This
marks
an
8-month
high,
according
to
Santiment.

????
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.

pic.twitter.com/sLPy8yeWtl

—
Santiment
(@santimentfeed)

December
13,
2024

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


trade

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


post,
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.

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