Bitcoin Miners Sell $209 Million Worth of BTC as Transfers to Exchanges Spike
According to a report by CryptoQuant, transfers from bitcoin mining pools to exchanges reached a two-month high this week as BTC hovered around $70,000. Miners are also selling their holdings via over-the-counter desks, with at least 1,200 BTC sold on June 10, the highest daily total in two months. Marathon Digital has sold 1,400 BTC worth $98 million since the start of June. Daily miner revenue currently stands at $35 million, down 55% from the peak in March due to lower transaction fees after the halving.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin Dominance Nears Peak Amid Bearish Divergence
Top 5 Decentralized Protocols: Unparalleled Innovations in the Crypto Space
Justin Sun Announces Major Update for Tron (TRX)
Tron (TRX) founder Justin Sun signaled an important change for the altcoin in his statement.
Warren Buffett’s Crypto Gift from Justin Sun Surges 1,000% in Value by 2024