Ethereum Holders More Active than Bitcoin Investors, Glassnode Report Finds
According to a recent Glassnode report, Ethereum holders tend to move, spend, and sell their coins more actively than Bitcoin holders. This trend reflects the fundamental differences in how the two cryptocurrencies are used: Ethereum (ETH) serves as network fuel and is heavily utilized in decentralized finance (DeFi) applications, while Bitcoin (BTC) is often treated as digital gold and hoarded as a long-term savings asset.
The report highlights that ETH long-term holders mobilize their coins at about three times the rate of BTC long-term holders, showing a greater willingness to part with their Ethereum holdings. In contrast, Bitcoin exhibits lower turnover, with more supply migrating into long-term holding wrappers rather than being held on exchanges.
About 25% of Ethereum’s supply is locked in native staking and exchange-traded funds (ETFs), underscoring its role as a utility token. Bitcoin, meanwhile, behaves more like a digital savings asset with extended holding periods. Ethereum's on-chain activity aligns with its use as digital oil for powering applications, whereas Bitcoin's behavior is more consistent with a store of value.
At the time of the report, ETH was priced around $3,208, down 4.5% over the past week, while BTC was around $95,992, down about 6% over the same period. Bitcoin's all-time high of $126,088 was reached in October, while Ethereum peaked near $4,946 in August. The data cited were collected prior to a recent crypto market downturn earlier this week.
