Key facts:
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The development of the dApp ecosystem on Ethereum can explain the difference.
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Other currencies such as dogecoin or cardano lag far behind in terms of the number of hodlers.
If bitcoin (BTC) and ether (ETH) were competing for who has the most hodlers or long-term investors, ETH currently has the upper hand.
Los data released by the firm IntoTheBlock, indicate that the cryptocurrency of the Ethereum network currently has almost 74 million long-term holder addresses, while Bitcoin has 33 million. IntoTheBlock qualify as a “long-term hodler” to addresses that hold coins without selling them for at least 12 months.
The difference between the long-term hodlers of BTC and ETH is 40 million addresses. This is despite the fact that both assets have experienced an increase in long-term investors in the last 12 months.
One of the reasons that may be giving Ethereum leadership with long-term investors is the development of the dApps ecosystem. in that network. dApps (an acronym for “decentralized applications”) can be used for a variety of purposes, including decentralized finance (DeFi) and gaming, among others.
An example of this has to do with the growth in the tokenization of real-world assets, as reported by CriptoNoticias. This consists of converting the value of an asset such as bonds, stocks, and even real estate, into digital tokens available on a decentralized network.
Last April, a study from Boston Consulting Group highlighted that the real-world asset tokenization industry could reach $16 billion by 2030.
For their part, currencies such as Litecoin (LTC), dogecoin (DOGE) or cardano (ADA), which are also reflected in the IntoTheBlock data, lag far behind in terms of the number of hodlers, compared to BTC or ETH. In the case of LTC has 4.9 million long-term holders, DOGE has 3 million, followed by ADA with $2.6 million.
Chainlink, for its part, is the only one on the list that shows a reduction in the percentage of long-term hodlers in the last 12 months. There are 455,000 addresses in this category currently, which represents a reduction of 2.98%.
