BTC and ETH Now Show Very Different Holder Behavior
Bitcoin and Ethereum holders are moving their assets very differently, new Glassnode data reveals.
- 61% of Bitcoin supply hasn’t moved in over a year
- Ethereum long-term holders spend 3× faster than Bitcoin holders
- BTC and ETH now behave as if in “different monetary universes”
According to blockchain analytics firm Glassnode, Bitcoin ($BTC) is entering an era of extreme HODLing. Data shows that 61% of all BTC has not moved in the past year, indicating strong conviction among long-term holders. This behavior is often seen as bullish since it reduces the circulating supply available for trading, potentially leading to upward price pressure over time.
This trend suggests that many Bitcoin investors see it more as a store of value, similar to digital gold, rather than a medium of exchange. Holding BTC for long periods is now a defining trait of the Bitcoin ecosystem, particularly in the face of growing macroeconomic uncertainty.
Ethereum Holders Are More Active
On the other side of the crypto world, Ethereum ($ETH) is showing a very different pattern. Long-term ETH holders are reportedly spending their coins three times faster than BTC holders. This indicates a more dynamic use of Ethereum in the market — possibly for DeFi, staking, trading, or other on-chain activities.
Ethereum’s utility as a platform — from smart contracts to NFTs and dApps — means that ETH is used more frequently as a transactional asset. This active circulation contrasts sharply with Bitcoin’s role as a dormant store of wealth.
Two Coins, Two Universes
Glassnode’s analysis makes it clear: BTC and ETH now live in “different monetary universes.” While Bitcoin is evolving into a long-term savings instrument, Ethereum is acting more like a working currency within its own ecosystem.
These diverging behaviors reflect the unique roles each crypto asset plays — and underscore the importance of analyzing on-chain data to understand market sentiment.
