Ethereum
Bitcoin vs. Ethereum: Wallets Tell a Different Story Amid Market Moves
While Bitcoin The market cap of $1.41 trillion far exceeds Ethereum’s $458.91 billion by a factor of 3.1. A closer look at the portfolio data reveals an intriguing story.
Ethereum’s decentralized finance (DeFi) ecosystem, staking activities, and smaller average wallet size contribute to a higher number of unique holders. Specifically, Ethereum has 122.9 million non-empty wallets, more than double Bitcoin’s 54.2 million. Meanwhile, USDT has 5.8 million non-empty wallets.
📊🤯 Although Bitcoin’s market cap is 1.41T compared to Ethereum’s 458.91B (3.1x larger), the total number of holders reveals a different story with ETH DeFi, staking and wallets smaller means.
🥈 $BTC non-empty wallets: 54.2 M
🥇 $ETH non-empty wallets: 122.9 M
🥉 $USDT non-empty wallets: 5.8 M pic.twitter.com/bhiUFBUo6b–Santiment (@santimentfeed) June 5, 2024
Kudos to Bitcoin and Ethereum, as crypto assets have outperformed traditional benchmarks like the S&P 500 and Nasdaq 100 in terms of average intraday movements. Conversely, the USD index showed negative performance over the last 30 days.
https://x.com/lord_zyre/status/1798631922962518113?t=vowd5FGgtdCWnsOyQgkHOQ&s=19
Bitcoin ETFS Net Inflow Reaches $489 Million, Marking 17 Consecutive Days of Inflow
On June 5, 2024, Bitcoin ETFs saw a net inflow of $489 million, marking 17 consecutive days of positive inflows. Fidelity’s FBTC led the charge for three straight days, followed by BlackRock’s IBIT, which reported an inflow of $156 million. Grayscale’s GBTC also saw another single-day inflow, although volume was down.
🚨 $BTC #AND F Net inflow as of June 5, 2024: +$489 million!
• Net inflows have been positive for 17 consecutive trading days.
• #Loyalty (FBTC) has been leading the entry rankings for 3 days.
• #Black rock (IBIT) comes in 2nd place with an inflow of 156 million dollars.
• #Shades of grey (GBTC) experienced… pic.twitter.com/0HITxRphOs
– Spot on the channel (@spotonchain) June 6, 2024
These trends highlight the growing interest and confidence in Bitcoin ETFs, as institutional investors increasingly allocate funds to this asset class. The continued positive flows and leadership positions of major players like Fidelity and BlackRock highlight a strong institutional appetite for Bitcoin exposure.
As Bitcoin and Ethereum continue to dominate the crypto landscape, their distinct characteristics and investor bases reveal multifaceted market dynamics.
Ethereum’s vast DeFi and staking ecosystem attracts a large user base, while Bitcoin’s strong market capitalization and institutional adoption generate substantial capital inflows. Together, these forces are shaping a dynamic and evolving cryptocurrency market.
Disclosure: This is not trading or investment advice. Always do your research before purchasing any cryptocurrency or investing in any service.
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