Bitcoin Surges Ahead of Ethereum in Realized Cap Growth and Profitability

Bitcoin (BTC) has significantly outpaced Ethereum (ETH) in realized market capitalization growth, according to April 10 data from on-chain analytics firm Glassnode. Since the FTX crash in November 2022, Bitcoin’s realized cap has soared by $468 billion, marking a 117% increase. In contrast, Ethereum’s realized cap has grown by only $61 billion—a 32% rise over the same period.

Realized capitalization reflects the actual capital invested in a cryptocurrency, calculated by summing the value of coins based on their last on-chain movement. This metric shows stronger investor confidence in Bitcoin over Ethereum, especially amid recent market volatility.

As of press time, Bitcoin’s price dropped 3.5% to $79,563.20, while Ethereum plunged over 8% to $1,516, according to CoinMarketCap. Despite the pullback, Bitcoin continues to outperform Ethereum across multiple on-chain metrics.

Glassnode data reveals Bitcoin has maintained higher investor profitability than Ethereum for a record 812 consecutive days. This historic stretch indicates the average BTC holder remains in profit. On the other hand, Ethereum’s market value to realized value (MVRV) has dipped below 1.0 since March 2025, suggesting the average ETH investor is now facing losses.

These insights come as the crypto market shows mixed signals, with recent rallies giving way to renewed selling pressure. While Ethereum still attracts capital, Bitcoin’s dominant growth in realized cap and profitability reinforces its status as the leading digital asset.

With long-term holders and retail investors accumulating over 10,600 BTC daily, Bitcoin’s fundamentals appear resilient despite short-term price swings. The latest figures reflect a decisive shift in market sentiment, favoring Bitcoin as the preferred store of value in the crypto space.