Ethereum Surpasses Bitcoin In Long-Term Holders: Is Altseason Approaching?
The post Ethereum Surpasses Bitcoin In Long-Term Holders: Is Altseason Approaching? appeared on BitcoinEthereumNews.com.
Data from IntoTheBlock reveals a significant shift in long-term holding trends for Bitcoin and Ethereum over the past year. While the percentage of long-term Bitcoin holders has declined, Ethereum has seen a steady increase, surpassing Bitcoin’s share earlier this year. This chart shows the percentage of long-term Bitcoin and Ether holders over the past year. While the share of long-term Bitcoin decreased, the percentage of long-term ETH holders climbed, surpassing that of Bitcoin early in the year. pic.twitter.com/F7ghaSq66T — IntoTheBlock (@intotheblock) December 29, 2024 This trend has fueled speculation about an upcoming altseason, as Ethereum continues to outperform Bitcoin in several key areas. Ethereum Gains Ground Against Bitcoin Ethereum’s recent surge against Bitcoin in the ETH/BTC pair suggests a potential breakout, a historical precursor to altseason—a period where altcoins typically outperform Bitcoin. The Altcoin Season Index hit a high of 88/100 earlier this month (December 4) but has since settled at 47, indicating mixed sentiment regarding altcoin performance. Market dynamics further support this narrative. ETH gains against BTC often trigger broader altcoin rallies, reflecting growing investor interest in alternative cryptocurrencies. This shift in focus could pave the way for increased market activity in altcoins as 2025 approaches. 📰 Ethereum Outperforms Bitcoin: Altseason on the Horizon?🚀 ETH/BTC Breakout: Ethereum’s recent surge against Bitcoin suggests a potential altseason, where altcoins outperform BTC.📈 Market Dynamics: Historically, ETH gains against BTC have preceded broader altcoin rallies,… https://t.co/AqFbzKttam pic.twitter.com/qNfXbQXTId — Bitcoinsensus (@Bitcoinsensus) December 30, 2024 Institutional Interest in Ethereum Increases Ethereum has also seen notable inflows from institutional investors. Between December 23 and December 27, Ethereum spot ETFs recorded a net inflow of $349 million. BlackRock’s ETF ETHA attracted $182 million, while Fidelity’s ETF FETH brought in $160 million. This influx of capital signals growing confidence in Ethereum’s long-term potential. Last week, from December 23…
Filed under: News - @ December 31, 2024 7:26 am