Ethereum has recently surged past the $4000* mark, stirring excitement among investors and enthusiasts alike. This dramatic increase in price is significantly influenced by *whale wallets, which collectively now control a staggering $333* billion* worth of ETH. Analysts are brimming with optimism, forecasting that Ethereum could reach new all-time highs, potentially hitting $7000* by early *2025**.
The landscape of Ethereum wallets has shifted, with *104 whale wallets* now holding *100,000 ETH* or more, as reported by blockchain analytics platform Santiment. This means that these influential wallets own an impressive *57.35%* of the total ETH supply. Interestingly, the majority of Ethereum holders are currently in profit, further solidifying the positive sentiment surrounding the currency, according to Coingape. Meanwhile, the share of ETH held by mid-sized wallets has decreased to *33.46%, the lowest recorded, with smaller wallets holding just 9.19%*.
The concentration of large stakeholders points to a bullish forecast for Ethereum’s price, with expectations that it could climb to $5000*. *Crypto expert Venturefounder emphasizes that Ethereum’s recent closing price above the critical $3,800* support level* confirms the ongoing uptrend. The recently observed “cup and handle” pattern hints that significant upward momentum is on the horizon, with potential price targets set at $5,349*, *$6,457*, and even *$7,238* before the end of the first quarter of *2025**.
Venturefounder suggests that Ethereum might “blast off”, surprising many investors who remain skeptical. He maintains a bullish long-term price prediction, envisioning Ethereum could eventually reach $15,937* by May *2025**.
Comparatively, Ethereum has been outpacing Bitcoin and Solana. Over the past month, Ethereum has climbed *26.99%, while Bitcoin has seen a gain of 17.49%. Notably, Solana has lagged with only a 1.69%* increase, solidifying Ethereum’s position as the leading alternative cryptocurrency.
The impressive performance has also strengthened the ETH/BTC pair, signaling confidence in Ethereum’s trajectory. Matthew Sigel, the head of digital assets at VanEck, forecasts that the pair is likely to experience a meteoric rise akin to what was seen in *2020*.
As Ethereum continues to hover above $4,000*, its market capitalization stands at an impressive *$482* billion. The cryptocurrency recently witnessed an influx of *$80* million* in trading volume within a mere 24 hours, with $54* million* attributed to short liquidations alone.
The communal excitement surrounding Ethereum’s rise emphasizes the potential for substantial growth. As whale wallets lead the charge, many are hopeful for a future where Ethereum could redefine its position in the broader cryptocurrency market. More content in ZCrypto.
