Santiment: Ethereum is approaching the $ 5000 level

The market of altcoins, especially the main one, Ethereum ETH $2,315.22 Bridged Ether (StarkGate) 0.22% Market capitalization $42.84 million VOL. 24 hours $0.75 billion , is showing a strong rise, approaching the price level of $ 5000, thanks to the activity of large investors and positive technical signals.

According to analysts, whales now control 57.35% of the total Ethereum supply. This indicates a growing confidence in the asset. At the same time, smaller wallets with a balance of less than 100 ETH have only 9.19%, which is the lowest figure in the last four years.

Santiment’s technical analysis shows the formation of a «bowl with a handle» on the ETH chart, which could push the price to $ 5349, $ 6457, and $ 7238 by the end of the first quarter of 2025. Compared to other cryptocurrencies such as Bitcoin, Ethereum is showing higher growth rates: in November, its price increased by 27%, while Bitcoin grew by only 18%.

Institutional interest also continues to support the Ethereum market. Investments by BlackRock and Fidelity demonstrate the confidence of major players in the long-term potential of the asset. In addition, the expected upgrade of EIP-4844 should significantly increase the scalability of the network, which further strengthens its position as a leader in DeFi and NFT.

Earlier, we reported that cryptocurrency industry experts expressed concerns about the impact of AI-powered digital wallets on the Ethereum ecosystem. According to them, such wallets could jeopardize the key concept of Ethereum — decentralization, which is one of the main advantages of this blockchain platform