Ethereum’s Year: ETH’s Long-Term Holder Percentage Exceeds Bitcoin

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Last Updated on December 31, 2023 by Bitfinsider

This year, the proportion of long-term ETH holders has increased dramatically, surpassing Bitcoin for the second time in history. With over 70% of investors now hanging on to their assets for more than a year, Ethereum has done very well in terms of its percentage of long-term holders this year, according to statistics from on-chain analytics platform IntoTheBlock. This represents a new milestone for the blockchain.

Compared to Bitcoin, Ethereum’s price action has underperformed significantly this year. However, given that Bitcoin has dominated the industry in optimistic measures and investor confidence this year, this is not surprising. But according to data from IntoTheBlock, more Ethereum investors appear to be holding onto their shares for the long term in the hopes that their value would increase significantly over time.

Investors that retain cryptocurrency for an extended period of time—even throughout periods of market turbulence and price declines—are known as long-term holders. Because they contribute to stability and lower price volatility, they are especially crucial to preserving the general health of any blockchain.

Only once in history has Ethereum outperformed Bitcoin on this particular measure. It’s significant to remember that ETH led in this statistic in the months that followed the last time this occurred.

However, according to IntoTheBlock’s In/Out of the Money statistic, Bitcoin is more profitable than Ethereum. Currently, 82.25% of all BTC addresses are profitable at the present price, and 76.10% of ETH addresses are as of this writing.

The great profitability of Bitcoin can be attributed to the vast majority of its early coins, which were thought to be lost forever. Consequently, Ethereum surpasses Bitcoin in terms of the proportion of holders who purchased at the current price metric.

Compared to 52% of BTC addresses that purchased between $35,729 and $48,402, over 63% of ETH addresses that made purchases between the current prices of $1,948 and $2,641 are still profitable.

With a current value of $2,285 it is up 91% for the year for Ethereum. The asset’s price has, however, generally lagged when compared to well-known altcoins, like as Cardano and Solana, which have increased by 145% and 925%, respectively, this year.

Remarkably, this hasn’t stopped people from making optimistic forecasts about Ethereum. Arthur Hayes, the founder of BitMex, predicted an astonishing $5,000 price for Ethereum in one of these predictions. Crypto expert Raoul Pau forecasted that ETH would surpass BTC and emerge as a major macrotrend in 2024 by examining price history. Breaking above the $2,380 price mark would be the first step toward doing this.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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