In recent cryptocurrency news, Ethereum (ETH) has seen a significant surge in exchange withdrawals, reaching a one-month high. Meanwhile, Bitcoin (BTC) has achieved an all-time high percentage of long-term hodlers. These developments indicate increased activity among Ethereum investors and many Bitcoin holders with a long-term investment strategy.
According to data from CoinMetrics, the seven-day moving average (MA) of Ethereum exchange withdrawals has reached 3,120.310, marking a notable increase. This figure surpasses the previous one-month high of 3,114.607, recorded on June 14, 2023. The rise in exchange withdrawals suggests a growing interest among Ethereum investors to move their holdings out of exchanges, potentially indicating a shift towards long-term holding strategies or participation in decentralized finance (DeFi) platforms.
BTC long-term hodlers reach new ATH
At the same time, Bitcoin has reached a new all-time high in the percentage of supply held by long-term hodlers. The metric, “Percent Supply Last Active 3+ Years,” has soared to 40.112%. This surpasses the previous all-time high of 40.107%, observed on July 11, 2023. The statistic measures the proportion of Bitcoin’s circulating supply that has not been actively moved or traded for at least three years. It indicates a growing number of Bitcoin holders who have demonstrated a commitment to long-term investment in the leading cryptocurrency.
These developments reflect the evolving investor behavior and sentiment in the cryptocurrency market. The increase in Ethereum exchange withdrawals suggests a shift towards long-term holding or participation in decentralized applications as investors seek to capitalize on the potential of the Ethereum network beyond mere speculation. On the other hand, Bitcoin’s record-breaking percentage of long-term hodlers highlights the enduring appeal of the first and most prominent cryptocurrency as a store of value.
Ethereum and Bitcoin have been subject to significant price volatility in recent years, prompting investors to adopt varying strategies to navigate the market. While some traders focus on short-term gains, others choose to hold their investments for the long term, often driven by the belief in the transformative potential of blockchain technology.
As the cryptocurrency landscape continues to evolve, it will be interesting to observe how these trends develop and whether they have a lasting impact on the market dynamics of Ethereum and Bitcoin.
