According to data from IntoTheBlock, Ethereum holders are accumulating more Ether while Bitcoin holders are selling off their holdings. This behavior has led to a slight decrease in the value of both BTC and ETH on Binance over the past week.
Ethereum’s long-term holders seem confident in the potential for gains in the altcoin, as they continue to hold onto their Ether. This is in contrast to Bitcoin holders, who have been taking profits and shedding their holdings.
The upcoming Ethereum ETF and new yield opportunities, such as staking, are likely driving the divergence in behavior between BTC and ETH holders. Analysts predict that the success of Ether spot ETFs could reach up to 20% of Bitcoin’s volume, signaling a potentially successful launch.
At the moment, Bitcoin is trading above $64,000 while Ethereum is nearing $3,500 on Binance. The market capitalization of the crypto industry has recovered from recent drops, with Ethereum holders showing more confidence in the future potential of the altcoin compared to Bitcoin holders.