Ethereum (ETH) Long Term Holders Beat Bitcoin (BTC) with 75% in 2024

According to Intotheblock data, the ETH long-term holders amount concluded at 75.06% by the end of 2024. It exceeded Bitcoin long-term holders of 62.31% during the same period.

2024 saw institutional and retail investors shift their focus from Bitcoin to Ethereum. This was largely due to Bitcoin’s performance, which, while positive, was stable and showed less growth compared to Ethereum.

This shift was also driven by Ethereum's increasing adoption in decentralized finance (DeFi) and non-fungible tokens (NFTs), which signaled a growing demand for ETH.

As a result, according to Intotheblock data, ETH long-term holders amounted to 75.06% by the end of 2024, surpassing Bitcoin's 62.31% during the same period.

This marked a significant increase from 59% in January, indicating growing confidence in Ethereum's potential.

However, it's important to note that Bitcoin remained relatively consistent in its path throughout the year, showing a more even and less rapid growth of long-term investor behavior.

Moreover, the data also showed that ETH rose even more in mid-2024, which was likely due to network upgrades and increased Ethereum usage in DeFi and NFTs.

This growth demonstrated the gulf between a vibrant Ethereum ecosystem and a stable Bitcoin store of value, with the latter’s trend doing little to change its weighing as a reliable but somewhat lackluster trade.

In other news, the year ended with a "hockey stick" moment as an incredible $2 billion flowed into Ethereum-focused ETFs in December, highlighting the growing appetite for regulated crypto investments.

The ETH peaked inflows on December 9 and December 16, with FETH raising over $600 million in these periods of high activity.

The total was also added by other ETFs, such as ETH, ETHA, and some small funds, like CETH, to reach the record sum.

This signaled a spike in trader conviction that Ethereum-focused ETFs are an effective way to gain exposure to cryptocurrency without holding it directly.

These vehicles were used by institutional and retail participants as they took advantage of the increasing use of Ethereum for DeFi, NFTs, and other blockchain use cases.

In fact, despite external uncertainties, consistent inflows throughout December underscored the market enthusiasm that’s held firm.

Ethereum's acceptance in the investment space has increased and placed itself as a major player in crypto institutional strategies as it hits the $2 billion milestone.

Steady inflows across all major ETFs are confirming sustained demand, which represents a watershed moment for Ethereum as a bedrock of regulated crypto finance.

This development can make Ethereum ETFs essential instruments in market growth in the future.

Finally, riding on growing momentum and strong technicals, analysts are projecting Ethereum to hit $10,000 in the next 8–12 months.

The ETH/BTC pair has tested a strong support zone three times and closed higher; it appears we might have the main support zone as a critical level.

An ongoing defense of this stance has bred conditions for a possible turn around, as the pair has its sights set on breaking through its downward trendline.

If a break happens, it could be a big sign of momentum moving, and moving upwards in the case of ETHBTC, turning the bearish trend around into a bullish trend.

Ethereum's combination of robust support and volume-driven breakout makes it an important inflection point against Bitcoin.

Should ETH pull off a successful reversal, it will represent the gradual strength in Ethereum's current positive trend compared with Ethereum’s solid market performance so far.