Analyst: ETH may hit a new high in Q1 2025

According to data from online analytics platform Santiment, Ethereum whale wallets have reached their highest level ever, accounting for approximately 57% of all Ethereum in existence.

In a Dec. 16 post to X, the platform said 104 whale wallets each hold more than 100,000 ETH, collectively holding around $333 billion.

Wallets holding between 10 and 100,000 ETH are at an all-time low of 33.5%, while wallets holding less than 100 ETH have a supply ratio of just 9.19%, a nearly four-year low, all of which could be a long-term bullish sign, especially if whales continue to accumulate.

Source: Santiment

“It’s important to note that the second-largest market cap ETH is increasingly present in DeFi and staking wallets, which generally remains a bullish long-term signal when the most important primary stakeholders of a token continue to accumulate,” Santiment said.

“Especially when it’s a nine-year-old asset, the percentage of tokens held by whales is at an all-time high,” it added.

Analysts Predict Ethereum to Rise as Wallet Addresses Hits 8-Month High

According to Santiment, the daily average number of new Ethereum addresses exceeded 130,200 in December, an eight-month high.

Ethereum’s price surpassed the $4,000 mark on Dec. 7 for the first time since March and is currently trading at $4,007, according to CoinMarketCap.

It is still down 17% from its all-time high of $4,891 on November 16, 2021.

Some analysts predict that Ethereum prices could break new all-time highs in the first quarter of 2025, driven in part by the deleveraging in crypto markets last month.

Market sentiment points to Bitcoin and altcoins

In another Dec. 16 article, Santiment said Bitcoin’s record high of $107,800 and Ethereum’s $4,000 mark “has sparked more bullish talk,” but its sentiment tracker shows that Bitcoin, Vanachains (VANA), and Moca Networks (Moca) are the hot topics right now.

Bitcoin is being discussed due to its first all-time high above $100,000 on December 6, and subsequent new highs.

“The discussion once again focused on Bitcoin’s dominance in the cryptocurrency market and its impact on altcoins,” Santiment noted.

Discussions are currently underway regarding VANA’s listing on major exchanges, a launch on Binance Launchpool, and custodial trading and token sales.

Meanwhile, according to Santiment, MOCA’s price has surged 95% in the past seven days after it was listed on South Korea’s main exchange, making it a hot topic among traders.

Santiment’s social tracker searches through crypto-specific social media channels like X and Telegram, looking for the top 10 words that have seen the biggest increase in mentions compared to the previous two weeks.