Can you imagine that the flagship cryptocurrency temporarily lost its lead to the second one? Ethereum outran Bitcoin in 2024. So, Bitcoin has to push harder to reclaim its status as the top digital asset.

According to data from analytics firm IntoTheBlock, the share of users holding Ethereum for more than a year increased from 59% in January to 75% by December 2024. Meanwhile, the share of long-term Bitcoin investors dropped from 70% to 62%.

However, since early 2024, BTC has surged by over 122% to crypto fans’ joy. As a result, Bitcoin’s price hit new all-time highs twice. Over the same period, Ethereum rose by just 48.2%, IntoTheBlock noted.

Experts attribute the difference in performance between the two leading cryptocurrencies to the lack of staking for ETH ETFs, the weak launch of Ethereum exchange-traded products compared to spot Bitcoin ETFs, and capital outflows to Solana’s network driven by high fees on the Ethereum network.

Nevertheless, the number of long-term ETH holders continues to grow. The second-largest cryptocurrency is steadily extending its growth by market value. Under current market conditions, traders and investors remain optimistic, betting on Ether’s further uptrend.

Earlier, analysts at Matrixport pinpointed factors that could disrupt Bitcoin’s long-term bullish trend. They say that one of them is the limited supply of the leading cryptocurrency.