Recent data shows a major increase in the amount of bitcoin moved by miners from the mining pool to crypto exchanges.
Recent data shows a major increase in the amount of bitcoin moved by miners from the mining pool to crypto exchanges, but the price of the flagship cryptocurrency continues to show resilience. Selling volume by miners hit its highest level Friday since March 2019, according to blockchain data firm Glassnode. The day BlackRock filed for a spot bitcoin exchange-traded fund , selling volume jumped to its highest level since September 2017.
Data for the second quarter will show a slight decrease to just under 100%, the report found. The 12 companies account for 20% of all bitcoin mining, Standard Chartered said. There are about 900 bitcoins mined a day, and the typical daily trading volume of the flagship crypto is between $7 billion and $10 billion, which means miners could sell 100% of what they're producing today and it wouldn't move the price of bitcoin much, Thiel said.
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