Ethereum had the highest number of addresses adding ETH to their balances since the start of 2025.
This is according to a recent Santiment analysis which looked into holder fluctuations of the top cryptocurrencies.
The Santiment analysis revealed that Ethereum added 645,000 wallets within the first 10 days of 2025.
Not only did it add new wallets, but they were also significantly higher than its top rivals. For example, Bitcoin which was the runner-up had 102,000 wallets during the same period.
The difference between ETH wallets and Bitcoin wallets growth could indicate that there is more interest in the former.
If that is the case, then it could signal that ETH demand is on the rise. However, the cryptocurrency has been struggling to recover after the December pullback.
– Advertisement –
ETH Whales Are Buying the Dip
Some on-chain metrics indicate that Ethereum demand is making a weekend comeback. For example, large holder inflows were higher than the time of observation compared to large holder outflows.
Inflows came in at 547,230 ETH while outflows were significantly lower at 321,650 ETH. In other words, there was over $743 million worth of buying pressure from whales.
The strong whale activity may indicate that the cryptocurrency will likely enjoy some relief over the coming few days.
However, this will depend on whether the bears will ease off their assault and whether demand can be sustained.
ETH exchange flows have also been declining, indicating that both sell pressure and buy pressure have been declining.
Exchange flows notably dipped into levels last seen in the first week of November. This is the same zone that was characterized by a robust wave of demand that fueled the rally that lasted between November and December.
ETH exchange outflows were notably higher compared to outflows in the last 24 hours. This was consistent with the surge in demand from whales.
Is Another Short Term Ethereum Price Recovery on the Cards?
Ethereum price just concluded a bearish week during which it tanked by slightly over 15% from weekly high to low.
This dip resulted in the cryptocurrency giving up the gains that it had achieved in the first week of January.
The price action suggests that price could potentially extend its downside. This is despite the 2.79% recovery observed in the last 24 hours.
This is because historic price action underscores the next major support level near the $3,036 price level.
On the other hand, ETH may not necessarily retest the support level if it can sum up enough demand for a pivot.
It was back in the green at the time of observation. This was in line with the recent spike in whale inflows.
So far multiple indicators point towards the possibility that ETH will bounce back after its latest crash. However, this outcome will depend on the resurgence of strong demand.
Analysts are closely watching institutional demand through ETFs to establish whether the coming week will bring forth more ETH upside.
