Sentora: Bitcoin miners’ share of on-chain transaction volume drops to around 3.3%, the lowest level since November 2022
Odaily Planet Daily reported that Sentora stated Bitcoin miners' share of on-chain transaction volume is at its lowest level in years. Currently, miner transactions account for about 3.3% of on-chain Bitcoin transaction volume, the lowest since November 2022. A lower proportion of miner transactions typically indicates a greater tendency to hold onto Bitcoin rather than trade frequently, with miners choosing to reduce selling in anticipation of price increases. November 2022 marked a low point in the crypto market (during the FTX collapse), and the current low proportion may suggest a more cautious market sentiment.
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.
You may also like
CryptoQuant: BTC valuation reset underway, market gradually returning to fundamentals
Kazuo Ueda: It is indeed possible to make policy decisions based on underlying inflation
Trending news
MoreThe Bank of Japan Governor's speech was "hawkish," stating that if the economy develops as expected, interest rates will continue to be raised, with specific decisions to be made after assessing the impact of the current rate hike.
CryptoQuant: BTC valuation reset underway, market gradually returning to fundamentals
Crypto prices
More
