Bitcoin Miners Flood Binance With 51K BTC — Is A Sell-Off Imminent?
According to on-chain trackers, bitcoin miners have moved a huge amount of coins to a major exchange in recent days, signaling a clear change in behavior that the market will watch closely. Related Reading: Michael Saylor Issues Rally Cry To Bitcoin Army: “Starve The Bears!” Reports have disclosed miner transfers totaling 51,000 BTC — worth over $5.7 billion — to Binance since October 9. That is a very large flow of supply into a place where coins can be sold quickly. Miners Move Large Amounts To Exchanges On October 11, there was a dramatic spike when miners deposited more than 14,000 BTC....
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As Bitcoin adoption gains traction in the dynamic financial sector, more of the leading cryptocurrency asset is persistently mined on a daily basis by miners. After a successful mining process in recent months, a significant portion of these coins is currently being moved to crypto exchanges, indicating a crucial shift in market behavior. Binance Sees […]
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has predicted that a flood of institutional money will flow into bitcoin once miners have addressed the renewable energy and environmental, social, and governance (ESG) issues. He said the flood will begin when bitcoin meets the ESG standards which will allow institutional investors to get into the asset class. O’Leary Predicts Soaring Institutional Demand for Bitcoin After Miners Solve ESG Issues Kevin O’Leary has reiterated his concerns about bitcoin’s sustainability and the importance of the cryptocurrency meeting....
Cryptocurrency exchange Binance has set out to support crypto miners through a lending program established by its mining pool. Presenting the initiative this week, the coin trading platform also unveiled that Binance Pool intends to launch cloud mining products.
Leading Exchange Binance Looking to Help Bitcoin Miners in Difficult Times for Crypto Business
Binance, the world’s leading crypto exchange by daily trading volume, has announced a plan to extend financial support to companies involved in the extraction of cryptocurrencies. The lending project was recently....
Nvidia RTX 3060 GPUs are going for as low as $270 as crypto miners in China dump their cards on the used market amidst the nation’s Bitcoin crackdowns. Cheap Used Nvidia RTX GPUs Flood The Chinese Market As Miners Dump As China continues cracking down on Bitcoin and mining in the country, some miners have […]
The Ethereum Merge could force many crypto miners to give up and abandon their expensive mining rigs amid a race to the bottom for profits. The Ethereum network’s transition from a proof-of-work (PoW) consensus is likely to flood the crypto industry with out-of-work ETH miners, causing severe disruption to all PoW tokens. Speaking to Cointelegraph, Andy Long, CEO of Bitcoin miner White Rock believes the upcoming Ethereum Merge will force PoW miners to look for greener pastures, such as other PoW blockchains, and thus "swamp” other coins — increasing mining difficulty and reducing....