Ethereum Maintains Positive Momentum with Strong Investor Support
The amount of Ethereum added to the holdings by whales has significantly increased since prices surpassed the $3,330 level. Since the end of November, there has been a noticeable increase in whale activity, and the number of ETH addresses with balances over $10,000 has also seen a substantial rise. There has been a marked increase in the number of large investor addresses starting from the beginning of December.
According to Glassnode data, whale activity on the Ethereum blockchain has seen a significant uptick. The increase in active addresses with balances over $10,000 peaked around December 9 and has been observed alongside an increase in active addresses since mid-November.
The rising market value of Ethereum has triggered whale movement. Last week, Lookonchain reported that a whale purchased 1,800 ETH for $7 million when the price was around $3,900. The blockchain analysis platform noted that this whale had accumulated 39,600 ETH at an average price of $2,487 since May 24 of this year.
Some analysts believe that a supply shock for Ethereum is imminent. Traders emphasize that with billions of ETH staked and increasing demand, Ethereum could reach $10,000 soon. This expectation of a supply shock arises as over 28% of ETH’s total supply is staked.
The increasing interest of whales in altcoins demonstrates their confidence in the future value of the market. Notably, large-scale Ether ETFs have recorded over $2 billion in net fund flows in the past three weeks. This growing demand from major investors indicates they are trying to accumulate before the price of Ether rises.
Recently, Ethereum has managed to surpass the $4,000 barrier twice but has struggled to maintain that level permanently. The possibility of ETH breaking through the $4,100 resistance is seen as a crucial threshold for future growth. A successful breakout is anticipated to drive the price to its previous all-time high of $4,865.
Can Ethereum reach a record level in 2025? Analysts expect Ethereum to hit a new all-time high in the first quarter of 2025. Despite Bitcoin reaching $100,000 in December, ETH has struggled to maintain levels above $4,000. However, recent market developments have increased the likelihood of Ethereum gaining value.
Ethereum is expected to maintain strong momentum until the end of the first quarter of 2025. With rising interest from both individual and institutional investors, there are positive expectations for Ethereum to play a significant role in the upcoming crypto market cycle and to surpass previous peaks.