Ethereum Outpaces Bitcoin as Long-Term Holders Soar to 74.7%
The post Ethereum Outpaces Bitcoin as Long-Term Holders Soar to 74.7% appeared on BitcoinEthereumNews.com.
The long-term holder ratios for Ethereum (ETH) and Bitcoin (BTC) over time show a distinct trend in favor of the former. As of now, 74.7% of Ethereum addresses belong to long-term holders, a figure that surpasses Bitcoin’s long-term holder ratio, which is hovering at just over 60% Ethereum Leads in Holder Ratios According to the latest data compiled by IntoTheBlock, the latest trend suggests that Ethereum holders exhibit a growing tendency to retain their assets for extended periods, likely reflecting confidence in ETH’s trajectory. The on-chain analytic platform stated that this trend is likely to continue until the leading altcoin nears its previous all-time high, at which point profit-taking behavior among holders could cause a decline in these ratios. It is important to note that this trend of long-term ETH holders consistently increased throughout 2024 as well. During this period, the number of Bitcoin holders, on the other hand, declined. In fact, IntoTheBlock’s previous data revealed that Ethereum’s long-term holder percentage climbed from 59% at the start of the year to 75% by the end of 2024. At the same time, Bitcoin saw its proportion of long-term holders decline steadily from about 70% to 62%. Moreover, the choppy price action briefly resulted in Bitcoin’s plunge below $92,000 this week. The price has since recovered modestly as Bitcoin trades a little above $94,000. However, Bitcoin’s Funding Rate, which sheds light on the demand within the derivatives market, is still low. Bitcoin Funding Rates Fall While Ethereum Eyes a Rally As explained by CryptoQuant, for any price surge to be sustainable, Funding Rates must reflect strong demand. While a delayed increase in these rates during a rally isn’t uncommon, their absence raises questions about the market’s underlying strength. During the recent Bitcoin rally, Funding Rates spiked midway, indicating a delayed influx of…
Filed under: News - @ January 10, 2025 11:24 am