Ethereum long-term holders rise in 2024 as Bitcoin holders fall
The number of long-term Ether holders increased steadily in 2024, while the number of Bitcoin holders decreased from last year, leading to growing confidence in ETH heading into the new year.
Citing data on the underlying system posted to X on December 30, the total percentage of Ether (ETH) holding their tokens for the long term has risen from 59% in January to 75% by the end of 2024. .
Source: IntoTheBlock
Meanwhile, the number of long-term Bitcoin (BTC) holders has seen a steady decline from 70% to 62% over the same time frame.
As of December 30, the ratio of long-term Bitcoin holders stands at 62.31%, while long-term Ethereum holders rest at 75.06%.
IntoTheBlock previously revealed that they have held long-term owners for more than a year.
While this metric is one of many that investors look to to gauge market sentiment for major crypto assets, ETH's long-term holdings suggest that continued volatility heading into 2025 suggests growing confidence in the asset.
Related: Why Ethereum Maxis Says ETH Will Be the ‘Comeback Boy' of 2025
In a Dec. 17 post for X, technical analyst Ger van Lagen said BTC's price is “blowing up,” with BTC subsequently falling from $106,000 to $93,000 between Dec. 16 and now.
Source: Gert van Lagen
Van Lagen predicts that this move is driven by long-term holders cashing out during the euphoria, but he has a different view on BTC, predicting that the asset could soon surpass $200,000.
Meanwhile, in the past month, inflows into spot ETFs have doubled, with total net inflows rising from $1 billion in November to $2.1 billion in December.
Many experts from various sectors of the crypto industry believe that the Trump administration will be especially beneficial for ETH.
Taking a bullish stance on ETH heading into 2025, they cited new developments ranging from the end of “financial nihilism”, a full overhaul of the SEC, a tie-up with Ether ETFs and increased regulatory oversight of commodities. Futures Trading Commission (CFTC).
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