In 2023, Ethereum once again surpassed Bitcoin in terms of the proportion of long-term holders.
ETH Long Term Holders Take Lead Over BTC
In 2023, Ethereum once again surpassed Bitcoin in terms of the proportion of long-term holders.
According to data from IntoTheBlock, Ethereum has made significant progress in the percentage of investors who hold their assets for over a year, indicating a shift towards a long-term holding strategy among current investors.
Although Ethereum's price performance lagged behind Bitcoin in 2023, this was expected due to Bitcoin's dominance in bullish indicators and investor confidence. However, there is a growing number of Ethereum investors who are committed to holding their ETH for an extended period, driven by the anticipation of future value appreciation.
Long-term holders, who are reluctant to sell during market volatility and price declines, play a crucial role in maintaining the health of the blockchain and reducing price fluctuations.
This is not the first time Ethereum has surpassed Bitcoin in this metric. In the past, ETH maintained leadership in this category for several months after surpassing Bitcoin. However, other metrics still show that Bitcoin is more profitable than Ethereum. Currently, almost all BTC addresses show profitability at the current price, while ETH addresses show profitability to a lesser extent.
The higher profitability of Bitcoin can be attributed to a significant number of early BTC that are assumed to be permanently lost. On the other hand, Ethereum is ahead of Bitcoin in terms of holders who purchased at the current price.
Comments
Hamid67
Due to the developments carried out in the second layer of Ethereum and the anti-inflationary advantage of Ethereum staking, the price of this currency will always rise in the long term.
