news 
ETH Outpaces BTC in Long-Term Holder Retention Throughout 2024: ITB
In a significant turn of events, Ethereum (ETH) has outpaced Bitcoin (BTC) in long-term holder retention throughout 2024. This phenomenon is particularly noteworthy, as it comes without ETH reaching an all-time high price like its counterpart.
The data suggests that while Bitcoin surged by 122% compared to Ethereum’s 48% growth over the past year, a crucial shift has taken place within the market sentiment of long-term holders. According to IntoTheBlock (ITB) metrics, it appears that this category of investors is now more likely to hold onto ETH rather than BTC.
In fact, the statistics reveal a significant difference in retention rates between Bitcoin and Ethereum. By year-end, ETH’s percentage of long-term holders stood at an impressive 75.06%, whereas the comparable figure for BTC hovered around just over 62%. It must be noted that this data highlights the divergence in investor behavior over the past year.
The shift towards a stronger retention rate in ETH can be attributed to several factors. One such factor is the recent approval of spot Ether ETFs, which has garnered significant attention without resulting in a major price rally as yet. Additionally, Ethereum’s advancements on its technology front have played a crucial role in retaining investors’ faith and enthusiasm.
In contrast, Bitcoin seems to be re-entering its accumulation zone, with sentiment dropping significantly after the cryptocurrency saw over 12% decline to $93,000 within the past two weeks. This price slump was accompanied by a decrease in market sentiment, as the Crypto Fear & Greed Index dropped to an all-time low of 65.
Despite Bitcoin’s recent woes, there is hope for a comeback. A leading analyst has predicted that Bitcoin will re-enter its accumulation phase, potentially setting the stage for a consolidation period lasting several weeks before a significant price move takes place. If this scenario transpires, we could see the price of BTC rise to an impressive $131,500 or higher by Q1 2025.
It is undeniable that the market has become increasingly complex, with both cryptocurrencies exhibiting differing trends in terms of retention rates and investor sentiment.
Source: cryptopotato.com
