Renowned crypto analyst CrediBULL Crypto has made a bold prediction about the potential price surge of Ethereum (CRYPTO: ETH) in 2024. In a recent post, the analyst suggested that Ethereum could reach five figures in the coming year, with a minimum price target of $10,000. This would represent a potential gain exceeding 343% from its current trading level.
At the time of writing, ETH was trading at $2,244.18, down by just 2 percent in the last seven days. In a more bullish scenario, CrediBULL Crypto envisions Ethereum reaching a maximum price of $20,000, suggesting an astonishing upside of around 786%.
The analyst also shared some short-term thoughts on Ethereum’s price movement. “Think that last [liquidation] wick marked our bottom but at least in the short term think we may see a small move down and a bit more ranging before we are ready for the next leg up,” CrediBULL Crypto said.
This optimism aligns with data from blockchain analytics platform Santiment, which reveals a significant accumulation of Ethereum by whale investors. According to Santiment, the top 150 self-custody wallets now collectively hold a record-breaking 56.25 million ETH, while exchange wallets hold a mere 9.46 million ETH, the lowest level since June 2018.
These statistics indicate a rapid accumulation of Ethereum by the largest holders. Both exchange and non-exchange wallets, owned by the top 150 Ethereum whales, now boast a total of 65.71 million ETH, marking an all-time high in whale holdings, as reported by Santiment.
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| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Bibhu Pattnaik |
| Companies | Benzinga, Santiment, Reuters, Shutterstock |
| Currencies | Ethereum |
| Securities | None |
