Addresses by Time Held
Overview
Since blockchains run on a public distributed ledger and all data is of public access. Numerous characteristics regarding addresses can be extracted. IntoTheBlock gathers addresses depending on the time they have held the specific asset. These addresses are divided the following way:
Hodlers - addresses that have held the asset over a period of one year.
Cruisers - addresses with holding periods between one and twelve months.
Traders - the group that have held the asset for less than one month.
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Hodlers - These are seen as long-term investors
Cruisers - these are mid-term or so-called swing traders
Traders - These are short-term speculators
By looking closely at the historical composition of these groups for ETH, we see two different panoramas for holders in 2017 vs beyond 2019
Most of crypto in 2017 was used purely for speculative purposes and Ethereum was no exception. As ICOs took over as the main use-case on Ethereum throughout 2017, most ETH holders were considered either Traders or Cruisers.
However, this started changing in 2019, around a year later after the first usable decentralized applications went live. These new use-cases likely played a key role in the sustained growth of Hodlers as these long-term addresses may want to keep their holdings in order to be able to take advantage of these applications.
Some may argue that the growth in Hodlers is due to lost wallets not being able to transfer out their crypto. While this may be a factor, consistent growth in the number Hodlers has only occurred in few assets such as Bitcoin and Ether, with other crypto-assets such as Litecoin and Dogecoin actually seeing a decrease in Hodlers throughout 2021.
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