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Bitcoin vs Ethereum as Store-of-Value
Find out how Bitcoin and Ethereum differ in supply structure, turnover, and institutional adoption. We use on-chain data to examine how both assets function as Store-of-Value within an evolving digital asset market.
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BTC and ETH: divergent supply dynamics in a maturing market
The two major digital assets are transitioning toward more stable ownership structures, yet along different trajectories. Here are just a few of our findings:
Dormancy between BTC and ETH is Diverging
ETH’s long-term holders are mobilising their old coins at a 3x faster rate than BTC’s. Older Bitcoin supply remains largely inactive, reflecting sustained holder confidence and a deeply entrenched store-of-value profile.
Ethereum balances a utility and reserve role
While BTC's turnover remains steady near 0.6% of free float per day, consistent with a classic store-of-value asset, ETH's rate is roughly 2x. This reflects Ethereum's role as productive capital powering staking, collateral, and settlement across DeFi.
Exchange outflows signal structural reallocation for both assets
A structural transition away from liquid trading venues toward long-horizon, institutional custody is underway. Over the year, BTC supply on exchanges fell by ~1.5% and ETH by nearly 18%, offset by growing holdings in ETFs and DATs.
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