Bitcoin Miners Surpass Daily Revenue Deposit by an Astounding 315%

By Lola Coin Jun 27, 202359Views

Bitcoin miners have recently deposited a record high of 315% of their daily revenue to exchanges, totaling around $128 million. This is measured by the percentage of miner revenue sent to exchanges, indicating a high amount being sold compared to their daily income. Miners sell some of their reserves to cover running costs, such as electricity bills. When miners sell more than their daily revenue, it could suggest investors looking to exit the market, which could be bearish for the cryptocurrency. The current spike in the indicator suggests miners are taking profits from the recent rally, but its impact on the price remains uncertain. As of now, Bitcoin is trading around $30,700, up 14% in the last week.

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