CryptoQuant: Miner Selling Down From 800+ BTC Daily Average Late Last Year to Less Than 300 BTC Daily Currently
Miner selling pressure is starting to ease, CryptoQuant said in a report.CryptoQuant's charts show that Marathon Digital's bitcoin holdings have steadily increased over the past few months. In addition, miners' daily sell-offs have fallen from a daily average of more than 800 BTC in November-December 2023 to less than 300 BTC per day earlier this year.CryptoQuant analysts added that miners are holding on to their reserves despite the decline in profits from Bitcoin network fees.
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.
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