Crypto Market Steadies as Ethereum Wallets Lead at 148 Million

• Ethereum now leads all crypto assets with 148.38 million wallets.
• RSI near 50 shows neutral sentiment as traders await breakout signals.

The global crypto market is showing signs of consolidation after recent volatility. Santiment’s recent data shows that Ethereum now leads with 148.38 million wallets. Bitcoin follows with 55.39 million holders, marking an all-time high. 

Other major cryptocurrencies also report increases. Dogecoin holds 7.97 million wallets, while Tether (USDT) stands at 7.79 million.XRP wallets total 6.53 million, with Cardano (ADA) at 4.49 million. USD Coin (USDC) accounts for 3.30 million wallets. Chainlink (LINK) has 766,010 wallet addresses. 

Santiment stated that the consistent rise in wallet numbers shows continued user confidence despite market swings. Analysts attribute this trend to steady retail and institutional interest in crypto networks.

Market Cap Stabilizes Above $3 Trillion.

TradingView data on June 7, 2025, stated that the total crypto market cap stands at $3.22 trillion. The daily chart reflects a $19.21 billion increase, or 0.60%, over the previous session. Trading volume hit $194.67 billion, indicating active participation.

The market has held above $3 trillion since late April. Analysts note this level acts as a psychological anchor for market sentiment. Price movement remains stable following a May correction. A green candle is forming on the daily chart, supported by rising volume. This suggests increased buying interest in the current price range.

According to analysts, short-term support lies near $3.15 trillion. If resistance levels are broken, buying momentum could increase. Traders are closely watching for potential breakout signals. Analysts view the ongoing consolidation as a healthy pause, not a bearish signal.

Momentum Indicators Point to Neutral Sentiment

The Relative Strength Index (RSI 14), a widely tracked momentum metric, currently reads 49.63. Its moving average is 53.94. These readings place the market in a neutral zone, suggesting neither bullish nor bearish momentum.

The RSI dipped during the May downturn but has since started to recover. Analysts say a sustained move above 55 could indicate a shift toward bullish momentum. A drop below 45, however, may suggest weakening price strength.

TradingView’s technical analysis shows that investors remain cautious. Market participants appear to be in a wait-and-see mode. Consolidation and a stable RSI reading reflect indecision but also resilience. Analysts say macroeconomic events or crypto-specific news may influence the next significant move.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.