The number of ethers held by miners has reached an all-time high – their wallets have 532,750 ETH worth $ 1.85 billion.
By data analytical platform Santiment, the number of ethers on the balance of miners reached 532,750 ETH – about 0.45% of the total number of coins in circulation (117.8 million ETH).
Usually, miners regularly sell mined cryptoassets to cover operating costs. The accumulation of coins by miners may indicate that they are waiting for further growth in the price of ETH.
BTC miners behave in a similar way. It was revealed this week that mining companies Riot Blockchain, Marathon Digital and Hut 8 are adhering to the HODL strategy and are not selling coins mined in September.
Ethereum hashrate dropped to 477 Tx / s at the end of June amid Chinese government bans, but has fully recovered over the past three months and reached new highs. Despite the fact that two large pools – Sparkpool and BeePool – announced they were shutting down last month, Ethereum hashrate has grown 150% since the beginning of the year.
In general, Ethereum’s popularity continues to grow amid the boom in DeFi and NFT – Messari analysts report that the value of processed transactions per year on the network has reached $ 6.2 trillion.
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