Bitcoin Miners Cash Out Rewards With Extensive Inflow in Exchanges
Miners Flood Exchanges with BTC Transfer
The data provided by an on-chain analytic firm, Glassnode points out towards a huge inflow of Bitcoin volumes in the past 24 hours. According to the Miners to Exchange Flow chart, the current value has shot up to 25.101BTC from 6.754 BTC, surging by 271.6 percent.
The inflow of huge amount of BTC comes in the time when Bitcoin price is recording some high levels. At the press time, BTC price stands at $15,726 with a jump of 3.80 percent in the last 24-hours.
Miners revenue jumps to pre-halving days
Good, profitable days are going on for the Bitcoin miners whose revenue has reportedly touched the highs. As per blockchain.com, the revenue of miners has touched $20.8 million a couple of days before.
Woefully, the revenue appears to have dipped to some extent but still marks above $15 million levels.
Bitcoin miners enjoy Huge Profits
As Coinpedia reported earlier that, Bitcoin has entered Miner Capitulation phase where-in most of the miners just shut down their farms due to low profits, some enjoy huge profits with soaring BTC price.
The miners due to high maintenance shut their farms which also resulted in the negative adjustment of mining difficulty. Therefore, with less mining difficulty and increased price, the miners are expected to experience a good profit in the ongoing capitulation phase.
Qadir AK Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide