Ethereum Long-Term Holders vs Bitcoin Long-Term Holders

Long-Term Holders 2024: Ethereum Grows While Bitcoin Declines

Ethereum Long-Term Holders Outperform Bitcoiners’

The long-term holders of Ethereum have proved to be superior to those of Bitcoin.

As the year 2024 is coming to an end, and we take a look at what has passed, the Ethereum long-term holders seem to have risen considerably. At the same time, the number of Bitcoin long-term holders seems to have declined significantly. 

IntoTheBlock’s X Post

As per a post by IntoTheBlock on X, the total percentage of Ether holding their tokens for the long term rose from 59% in January 2024 to 75% by 2024’s end. During the same time frame, the number of Bitcoin's long-term holders declined from 70% to 62%. The number of Ethereum holders surpassed that of Bitcoin quite early this year. 

As per IntoTheBlock’s metrics, ‘long-term’ holders refer to those holding the assets for over a year. 

Now, the proportion of long-term holders of Ethereum stands at 75.06%, way more than that of Bitcoin which is 62.3%.

Market Sentiments

The statistics show the rising confidence of the market participants in Ethereum (ETH). And that now we are heading toward the end of 2024 and the beginning of 2025 is near, it will be interesting to watch how far the percentage goes during the new year.

Past Analysis

A technical analyst expected BTC ‘blowing off,’ however, the price later dropped from an ATH to mere $93,000. Ger Van Lagen, on his X post dated Dec,17, mentioned that the rising number of long-term holders of Bitcoin was pushing BTC into a euphoria. He even estimated the price to surpass $200k very soon.

However, everything was not as supposed. The last month itself, inflows into spot Ether ETFs surged from $1 billion to $2.1 billion. The net inflows more than doubled from November to December helping ETH to surpass BTC as we now see.

Major factors considered responsible are Trump’s administration coming in action soon, demise of what can be referred to as ‘financial nihilism,’ SEC’s major position-holders being changed, the adding of staking to Ether ETFs as well as reduced regulation on the Commodity Futures Trading Commission (CFTC).