Long-term holding trends in the crypto market have taken an intriguing turn this year as Ethereum surpassed Bitcoin in retaining such investors.
Strengthening Ethereum's Position Among Long-Term Holders
According to IntoTheBlock data, the percentage of long-term Ether (ETH) holders has steadily surpassed that of Bitcoin (BTC) investors throughout 2024. The year-to-date trend indicates a declining share of long-term Bitcoin holders, which currently stands at a little over 62%. On the other hand, long-term ETH holders began the year with a notable rise, thereby outpacing their BTC counterparties early on and stabilizing at 75.06%. This divergence in investor behavior highlights stronger retention in Ethereum compared to Bitcoin over the past year. Despite Ethereum not reaching its all-time high price like Bitcoin, it has seen significant technological developments.
Current Bitcoin Situation
Meanwhile, the Crypto Fear & Greed Index, which measures market sentiment, dropped to 65 on December 30, the lowest since October 15, amid Bitcoin’s more than 12% decline to $93,000 over the past two weeks. However, author James Williams asserted that Bitcoin has re-entered its accumulation zone, predicting a potential period of consolidation before a significant price move.
Technological Achievements and Projections
Ethereum became more affordable after the Dencun upgrade, which slashed transaction fees across Layer 2 solutions, offering users faster and cheaper alternatives to the mainnet. Spot Ether ETFs also received approval, sparking interest in the cryptocurrency.
These events indicate Ethereum's strengthening position in the market and possible shifts in investment dynamics, establishing it as a unique asset among other cryptocurrencies.
