The latest market data indicates a milestone for Ethereum ($ETH) based on long-term holdings. As per IntoTheBlock, the long-term $ETH holders have outpaced $BTC holders, denoting a landmark achievement for Ethereum amid the evolving market dynamics. The on-chain analytics provider discussed the difference between Ethereum and Bitcoin’s long-term share in a recent X post.
This chart shows the percentage of long-term Bitcoin and Ether holders over the past year. While the share of long-term Bitcoin decreased, the percentage of long-term ETH holders climbed, surpassing that of Bitcoin early in the year. pic.twitter.com/F7ghaSq66T
— IntoTheBlock (@intotheblock) December 29, 2024
$ETH Long-Term Holders Exceed Bitcoin with 75.06% Market Share
IntoTheBlock asserted that the wallets possessing Ethereum and Bitcoin for more than a year have seen a difference in their percentage. Bitcoin has been maintaining a greater share of the long-term asset holders because of its status as digital gold. However, the last year has displayed a notable dip in the $BTC proportion in long-term holdings.
On the other hand, Ethereum has recorded a persistent growth, surpassing the top crypto asset. Particularly, the long-term Bitcoin holders have accounted for 62.31% market share since the start of this year. Contrarily, long-term Ethereum holders are above them at 75.06%.
Surging Long-Term Market Share Results from Ethereum’s Expansion in Adoption and Use Cases
The long-term holding rise of Ethereum in comparison with Bitcoin signifies its growing popularity in the market. According to IntoTheBlock, the respective trend highlights the diversification in the crypto industry as Ethereum keeps increasing its use cases and adoption.
As a result of this, the long-term holders have consistently been holding on to their $ETH holdings. This suggests their unwavering faith in the well-known crypto asset for the long-term. This also points toward the diversification of the crypto beyond Bitcoin.
