Ethereum Miners are Accumulating at Unprecedented Levels
Across the complete Ethereum miner ecosystem, the final three months had been marked by secure and undisrupted accumulation. As a outcome, the cumulative steadiness of all ETH mining swimming pools is at the moment hovering at an all-time-high of 1.69M ETH (which has a present worth of ~$300M).
These intervals of accumulation are likely to recommend excessive confidence ranges within the challenge among the many majority block creators, at the very least relative to the present market situations. On the opposite hand, main miner sell-offs have typically been adopted by fast and important value corrections traditionally.
The final time the community’s miners held on to this a lot ETH was again in late October of 2019, when a drop beneath $170 prompted some to dump their holdings. Barring main market volatility this time round, we’re more likely to breach this milestone throughout the subsequent few days.
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