CryptoDiffer released new data on Apr 24 detailing the comparison between the average holding time period of different crypto-assets. The list was curated based on top 15 crypto-assets, which are popular on Coinbase. The data revealed that 0x (ZRX) is the longest held cryptocurrency at 137 days, Litecoin (LTC) came second with an average holding period of 130 days and Ethereum came third at 106 days. Ethereum Classic (ETC) took the fourth position at 98 days and Bitcoin (BTC) surprisingly could manage only the fifth position at 94 days.
TOP 15 Cryptocurrencies according to @Coinbase users in April@0xProject remains to be the leader with 137 days of holding period. @LitecoinProject and @ethereum still have the holding period > 100 days$BTC $ETH $LTC $BCH $XRP $XLM $BAT $ZRX $EOS $XTZ $ETC $LINK $DAI $OXT $ZEC pic.twitter.com/be41dVCZJH— CryptoDiffer (@CryptoDiffer) April 24, 2020
On the contrary, the shortest holding period was 2 days for the Dai Stablecoin (DAI), Orchid (OXT) came second at 5 days average holding period. EOS (EOS) managed third position with 8 days. Basic Attention Token (BAT) and Tezos (XTZ) jointly shared the fourth position at 29 days. Stellar (XLM) bagged the fifth position with 35 days.
What Does The Cryptocurrency Data Reveal?
The average holding time period is a significant indicator of investors’s confidence or lack of it, in any project. Generally, the more confident and trustful people are about a project, the longer they hold it for, hoping for further increase in the value and price of a project. On the contrary, the more unconfident and distrustful people are about a project, the shorter they hold it for, fearing a further decrease in the value and price of a project.
However, there are exceptions. For instance, DAI is a stablecoins, they are by the nature of their utility, act as a precursor for other activity and hence aren’t generally held for long. Further, the coins with staking or masternode feature are also kept for long periods of time, since they return profits in exchange for a holder’s contributions to the network.
