Ethereum long-term holders rise to 75% in 2024

The percentage of Ethereum (CRYPTO:ETH) long-term holders climbed steadily throughout 2024, increasing from 59% in January to 75% by the end of the year, according to data shared by IntoTheBlock on Dec. 30.

In contrast, Bitcoin's (CRYPTO:BTC) long-term holders saw a decline, dropping from approximately 70% at the start of the year to 62% by December 30.

Long-term holders, defined as those holding an asset for over a year, provide a measure of market confidence.

The increase in Ethereum's long-term holders signals growing trust in the asset as it approaches 2025, while Bitcoin saw some selling activity during the same period.

In a post dated December 17, technical expert Ger Van Lagen pointed out that the recent price fluctuations of Bitcoin, which saw it drop from $106,000 to $93,000, were probably caused by long-term holders cashing out during a period of market euphoria.

Despite this, Van Lagen maintained a bullish outlook for Bitcoin, predicting it could surpass $200,000 in the near future.

Ethereum also saw increased interest through spot Ether ETFs, with net inflows doubling from $1 billion in November to $2.1 billion in December, further indicating growing confidence in the asset.

Looking ahead to 2025, some industry experts believe Ethereum may benefit from anticipated policy shifts under the Trump administration.

These include potential changes in regulatory oversight by the Commodity Futures Trading Commission (CFTC), the addition of staking features to Ether ETFs, and the expected reforms at the Securities and Exchange Commission (SEC).

Such developments have contributed to bullish sentiment for Ethereum, positioning it as a key player in the evolving cryptocurrency landscape.

At the time of reporting, the Ethereum price was $3,403.06.