Outside Source
Long-term ETH holders have proved they have superior diamond hands to Bitcoiners throughout 2024.
News
The number of long-term Ether holders steadily increased throughout 2024 while the number of Bitcoin holders fell over the last year, amid rising confidence in ETH heading into the new year.
In a Dec. 30 post to X, citing data from its platform, IntoTheBlock shared that the total percentage of Ether (ETH) who had held their tokens for the long haul had risen from 59% in January to 75% by the end of 2024.
Source: IntoTheBlock
Meanwhile, the number of long-term Bitcoin (BTC) holders witnessed a steady decline from roughly 70% to 62% in the same timeframe.
As of Dec. 30, the proportion of long-term Bitcoin holders stands at 62.31% while the proportion of long-term Ethereum holders rests at 75.06%.
IntoTheBlock has previously described long-term holders as those holding an asset for more than a year.
While this metric is one of many that investors can look at to gauge market sentiment towards major crypto assets, a continued shift toward long-term holding for ETH also suggests growing confidence in the asset heading into 2025.
Related: Why Ethereum maxis say ETH will be the ‘comeback kid’ of 2025
In a Dec. 17 post to X, technical analyst Ger Van Lagen said Bitcoin’s price was “blowing off,” with BTC later dropping from an all-time high of $106,000 to $93,000 between Dec. 16 and current.
Source: Gert Van Lagen
Van Lagen suggested this move was driven largely by long-term holders cashing out amid a period of euphoria but maintained a distinctly bullish outlook on BTC, predicting the asset was on track to surpass a price of $200,000 in the near future.
Meanwhile, in the last month, inflows into spot Ether ETFs have doubled, surging from $1 billion in net inflows in November to $2.1 billion worth of cumulative net inflows in December.
Several experts from different sectors of the crypto industry believe that a Trump administration will prove beneficial to ETH in particular.
They cited a swathe of new developments for taking a bullish stance on ETH heading into 2025, ranging from the demise of “financial nihilism,” a complete overhaul of the SEC, the addition of staking to Ether ETFs, and increased regulatory oversight from the Commodity Futures Trading Commission (CFTC).
Magazine: Comeback 2025 — Is Ethereum poised to catch up with Bitcoin and Solana?
This article first appeared at Cointelegraph.com News
