With Bitcoin‘s price hovering around $100,000, other cryptocurrencies such as Ethereum, Dogecoin, Cardano, and XRP are garnering attention too. As per data from Santiment, the number of long-term investors (HODLers) for these altcoins has seen ups and downs this year. This crypto analytics platform suggests that the count of HODLers within each coin’s ecosystem could indicate significant implications.
The Ethereum and XRP Standout
As a researcher delving into the world of digital currencies, I recently conducted an analysis on six notable cryptocurrencies, among them Bitcoin and Chainlink. Interestingly, while Chainlink experienced a significant decline with approximately 3,300 fewer wallets holding it, Ethereum and XRP managed to shine.
The data we shared indicates that Ethereum experienced an increase of approximately 645,000 users in its holder wallets. This significant rise highlights its position as the leading alternative coin preferred by retail investors. Meanwhile, XRP came in second place with a total of around 58,000 users added to its holder wallets since the beginning of the year.
Among all meme cryptocurrencies evaluated by Santiment, Dogecoin stands alone as the one showing a significant increase in long-term investors, with approximately 29,000 holders. On the other hand, Cardano recorded the smallest number, having only about 2,800 wallets invested in its long-term development.
2025 has begun with cryptocurrency’s leading assets experiencing a rollercoaster ride in prices. Consequently, the number of crypto holders has seen significant ups and downs since the start of the year.
As an analyst, I’m observing a significant growth in the number of wallets for various cryptocurrencies. Specifically, the Bitcoin network has seen approximately 102,000 new wallets added, while Ethereum has experienced a notable increase of around 645,000 new wallets. The XRP Ledger also shows an uptick with roughly 58,000 new wallets. Lastly, the Cardano network has seen about 2,800 new wallets. This trend suggests a growing interest in these digital assets among users worldwide.
— Santiment (@santimentfeed) January 10, 2025
As a researcher, I’d like to emphasize that the label ‘HODLer’ refers to individuals who intend to keep their digital assets for an extended period. It’s suggested by our data provider that an increase in the number of HODLers can foster confidence among investors or the community regarding the project, thereby promoting ecosystem stability and fostering long-term token growth.
When the number of holders decreases, it often indicates that investors are more concerned about Fear, Uncertainty, and Doubt (FUD), rather than confidence in the asset.
Ecosystem Projects and Dogecoin Advantage
Even though we’re currently experiencing a rising market trend, the frequent ups and downs serve as reminders of how unpredictable and uncertain the crypto market can be. As previously reported by Coingape, the price of Ethereum dropped by 9% within a day, a pattern that’s also observed in other alternative cryptocurrencies.
In the midst of ambiguity, investors are zeroing in on developer actions, while others in the field look past pricing. For instance, Ethereum programmers are engaged in the Pectra Update, whereas Ripple Labs have introduced the RLUSD stablecoin to enhance XRP’s fluidity.
The global team at Input Output (IO) is continuously refining the community governance structure for Cardano. It’s possible that over time, Dogecoin could garner more attention within the alternative coin market.
The Department of Government Efficiency, headed by Elon Musk, could contribute to the growing popularity of Dogecoin (DOGE). The patterns within its ecosystem could be the reason why an increasing number of users are placing their faith in DOGE’s future potential.
ETH and DOGE Predictions for 2025
Despite the recent market ups and downs, experts are optimistic that the altcoin boom is yet to come. Galaxy Research predicts that the price of Dogecoin could reach $1 this year, based on its analysis of the coin’s connections. This forecast aligns with the firm’s association with Mike Novogratz.
This year could bring significant developments for Ethereum, as per the views of leading experts. Bitwise’s prediction suggests that Ethereum might surpass its previous record high this year, and they even propose a possibility where Ethereum could touch $7,000 by December.
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2025-01-11 02:16