Ethereum: Record Concentration Among Whales, A Worrying Sign Or A Bet On The Future?

Despite being considered a slow evolution, the Ethereum crypto seems to be embarking on a sustainable upward trajectory. With a significantly evolving asset distribution, some analysts anticipate a historic breakthrough for ETH by 2025. This dynamism is notably supported by recent massive accumulations by the “whales” wallets, suggesting a long-term strategy that could disrupt the markets.

104 Ethereum whales hold 57% of the total supply

Crypto whales, these investors holding colossal volumes, are strengthening their grip on Ethereum. According to the analysis platform Santiment, 104 wallets each possessing more than 100,000 ETH now hold 57.35% of the total supply, amounting to approximately 333 billion dollars.

🐳 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

This historical record raises questions about the future of this altcoin.

Meanwhile:

• The average wallets (between 10 and 100,000 ETH) reach a historically low ratio of 33.5%;
• The small wallets (less than 100 ETH) now represent only 9.19% of the total supply, a low not seen in nearly four years;
• The daily active addresses on Ethereum recently surpassed 130,200, a peak in eight months.

“Seeing a 9-year-old asset with such a concentration of coins among the whales is generally a bullish sign for the long term,” points out Santiment.

This dynamism could indicate a growing confidence in Ethereum, despite its apparent volatility and its current price, still 17% lower than its record in 2021.

Crypto traders speculate on a comeback

Crypto traders are monitoring the evolution of the Ethereum price, especially since it crossed the $4,000 mark at the beginning of December, a level it hadn’t reached since March. This progression fuels optimistic hypotheses for 2025, with the potential to surpass its historic peak of $4,891.

However, investor attention is not limited to Ethereum. According to Santiment’s social data, Bitcoin and some altcoins like Vanachains and Moca Networks are also generating significant interest.

Bitcoin, in particular, continues to dominate discussions after surpassing the $100,000 mark this year for the first time.

Nonetheless, Ethereum retains a major asset: its central place in the DeFi ecosystem and the staking. This dual role, combined with the accumulation by the whales, strengthens its strategic position among traders and institutional investors.

Just yesterday, 108,521 ETH left the exchanges, indicating that these assets are likely heading towards cold wallets. This trend could reflect a strategic revision by investors, suggesting an imminent rally for Ethereum.