Ethereum miners are hoarding a record $70B in ETH following EIP-1559 activation

Ethereum miners are hoarding a record $70B in ETH following EIP-1559 activation

The Ethereum block producers accumulated $6.1 billion worth of ETH tokens after the Aug. 5 network upgrade. An on-chain study released by Kraken Intelligence highlighted strong accumulation behavior among Ethereum miners even as they faced the prospects of generating lower revenue following a major network upgrade on Aug. 5, 2021.Ethereum miners accumulated an additional 2 million Ether (ETH) worth $6.1 billion after the so-called London Hard Fork's activation. The latest bout of accumulation caused miners' net Ether holdings to hit an all-time high of 22.3 million ETH (worth nearly $70....


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