- Shark wallets holding 1,000-10,000 ETH accumulated 450,000 ETH between Nov 18 and Dec 2.
- ETH price rebounded to $3,215, supported by sustained mid-sized holder accumulation.
- Ethereum network added 190,000 new wallets in one day, hitting a 5-month growth high.
Ethereum (ETH) has regained the $3,215 level, buoyed by a clear wave of accumulation from so-called shark wallets or addresses holding between 1,000 and 10,000 ETH. According to Santiment, an on-chain analytics platform, this group of wallets has been one of the most correct early indicators for Ethereum’s (ETH) price trend throughout 2025, buying on every bottom and adding pressure during recoveries.
Shark Wallets Add 450,000 ETH in Just Two Weeks
Santiment notes that from November 18 to December 2, mid-sized Ethereum (ETH) holders have been accumulating about 450,000 ETH, making them one of the strongest buying periods in months. Historically, when this cohort of investors concentrated on accumulation, market rebounds occurred, and by all indications, current events would be no different.
Also Read: Ethereum (ETH) Targets $3,400 as Bitmine Buys 18,345 ETH Amid Fusaka Upgrade
Network Growth Hits 190,000 New Wallets in a Day
In addition to the rejuvenated accumulation, Ethereum’s network activity has increased significantly. According to Santiment, the network witnessed the creation of 190,000 new wallets in one day-a sign of growing user adoption and, hence, improved fundamentals.
A spike this size in daily new addresses is usually indicative of increased adoption, more transactional activity, and long-term growth for the ecosystem.
Current Market Structure: Trend, Resistance, and Support Zones
Ethereum (ETH) currently has a market capitalization of approximately $382.91 billion, with a trading volume of about $27.59 billion in the last 24 hours. At press time, the altcoin is trading at $3,170.2, having increased by 3.05% over the past 24 hours.
The price is moving in a bullish trend and is currently testing a resistance level near $3,192.1. If it breaks above this, the next target could be $3,250.00. On the downside, the support level is around $2,806.6. If the altcoin falls below this level, we might see a drop towards $2,750.00.
The blue line indicates the resistance level at $3,192.1, while the yellow line represents the support level at $2,806.6.
Market Context: From October Dump to December Revival
Ethereum’s current momentum comes after a critical test in early October, seeing over 1.3 million ETH reportedly sold across major wallets. Yet, even despite such heavy dumping, the market soon balanced out. Rising accumulation now eclipses earlier distribution.
The fresh accumulation of ETH among shark wallets is indicative of improving investor sentiment, while network growth metrics reinforce the blockchain’s continued relevance as one of the most active smart contract ecosystems.
Also Read: Ethereum Surges Above $3,000 as Signals Point Toward a $3,700 Breakout
