• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Cardano price prediction_ ADA to retest $0.35, analyst

    Cardano price prediction: ADA to retest $0.35, analyst

    Crypto market cap

    Crypto market cap reaches ATH: crosses $1 Trillion

    Litecoin price prediction_ LTC to $180, analyst

    Litecoin price prediction: LTC to $180, analyst

    Ripple price prediction: Rise to $0.45 ahead, analyst

    Ripple price prediction: Rise to $0.45 ahead, analyst

    Bitcoin price prediction: BTC to $43,000, analyst

    Bitcoin price prediction: BTC to $43,000, analyst

    Ripple

    Ripple can serve as a bridge between CBDCs

    Bitcoin miners to exchange flow surged by 300% in the past 24hrs 1

    Conversation with Norbert Goffa – Сo-founder of ILCOIN – about the cryptocurrency market, trends and vision

    Ethereum price analysis – ETHUSD blasts past $1,200 as the euphoria takes over

    Ethereum price analysis – ETH/USD blasts past $1,200 as the euphoria takes over

    Bitcoin price analysis – BTC eyes $40,000 as bulls push forward relentlessly

    Bitcoin price analysis – BTC eyes $40,000 as bulls push forward relentlessly

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Cardano price prediction_ ADA to retest $0.35, analyst

    Cardano price prediction: ADA to retest $0.35, analyst

    Crypto market cap

    Crypto market cap reaches ATH: crosses $1 Trillion

    Litecoin price prediction_ LTC to $180, analyst

    Litecoin price prediction: LTC to $180, analyst

    Ripple price prediction: Rise to $0.45 ahead, analyst

    Ripple price prediction: Rise to $0.45 ahead, analyst

    Bitcoin price prediction: BTC to $43,000, analyst

    Bitcoin price prediction: BTC to $43,000, analyst

    Ripple

    Ripple can serve as a bridge between CBDCs

    Bitcoin miners to exchange flow surged by 300% in the past 24hrs 2

    Conversation with Norbert Goffa – Сo-founder of ILCOIN – about the cryptocurrency market, trends and vision

    Ethereum price analysis – ETHUSD blasts past $1,200 as the euphoria takes over

    Ethereum price analysis – ETH/USD blasts past $1,200 as the euphoria takes over

    Bitcoin price analysis – BTC eyes $40,000 as bulls push forward relentlessly

    Bitcoin price analysis – BTC eyes $40,000 as bulls push forward relentlessly

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Bitcoin News

Bitcoin miners to exchange flow surged by 300% in the past 24hrs

Ibiam Wayas by Ibiam Wayas
October 27, 2020
in Bitcoin News
2 min read
Grayscale adds 12,000 BTC, raises AUM to almost $16 billion
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter
  • Bitcoin miners to exchange flow spiked by more than 300 percent within the last 24 hours.
  • Despite the spike, the crypto has maintained a price above the $13K level, signaling more demand.

The ongoing bullish trend with the largest cryptocurrency by market cap, Bitcoin (BTC), seems to be a strong one. On-chain data today from Glassnode show that Bitcoin miners are cashing out their rewards aggressively. Previous reports show that such an event is often followed by a drop in the crypto’s price. However, Bitcoin’s price still looks strong despite the miners’ deposits to exchanges.

Bitcoin miners are cashing out a big time

As Glassnode, an on-chain analytics platform, shared on Tuesday, the flow of capital from the Bitcoin miners to digital currency exchanges surged significantly in the past 24 hours. The previous value was at 3.137 BTC yesterday. However, it peaked at 12.823 BTC today, as Glassnode disclosed in a chart. This spike represents an over 300 percent increase from the previous record.

📈 #Bitcoin $BTC Miners to Exchange Flow (2d MA) increased significantly in the last 24 hours.

Current value is 12.823 BTC (up 308.8% from 3.137 BTC)

View metric:https://t.co/8Bnl6PlAY8 pic.twitter.com/npj4qx4qoH

— glassnode alerts (@glassnodealerts) October 27, 2020

The spike in Bitcoin miners sell-off to exchanges can be attributed to the increasing price of the cryptocurrency, as Bitcoin recently made a new yearly high at over $13,000. Thus, one might say that Bitcoin miners are selling to recover from the expenses incurred during mining. This might also be the reason behind the massive drop in the Bitcoin network hashrate. 

RelatedPosts

Bitcoin price prediction: BTC to $43,000, analyst

Bitcoin price analysis – BTC eyes $40,000 as bulls push forward relentlessly

Bitcoin supply liquidity on the decline

Bitcoin price prediction: Analyst suggests hodling

BTC price looks stronger

Many people usually speculate that increased transfer of mined Bitcoin to exchanges by miners raises selling pressure in the market, thereby causing a drop in the cryptocurrency price. Judging by this, there is probably a strong demand for Bitcoin, as the crypto has instead, maintain the $13,000 price level.

At the time of writing, Bitcoin is trading at $13,148 on Coinmarketcap. The crypto has a 24 hours trading volume of $30,070,713,862 and a market capitalization of $243,615,120,483. As BTC started the week with such strength, investors expect more increase with each proceeding day. However, the statements are just predictions, as no one can accurately future Bitcoin price. 

Tags: cryptocurrency tradingcryptomarket
Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

Related Posts

Bitcoin price prediction: BTC to $43,000, analyst
Bitcoin News

Bitcoin price prediction: BTC to $43,000, analyst

January 7, 2021
Bitcoin price analysis – BTC eyes $40,000 as bulls push forward relentlessly
Bitcoin News

Bitcoin price analysis – BTC eyes $40,000 as bulls push forward relentlessly

January 6, 2021
Bitcoin
Bitcoin News

Bitcoin supply liquidity on the decline

January 6, 2021

Follow Us

  • 40.6k Fans
  • 8.3k Followers

Latest News

Cardano price prediction_ ADA to retest $0.35, analyst

Cardano price prediction: ADA to retest $0.35, analyst

January 7, 2021
Crypto market cap

Crypto market cap reaches ATH: crosses $1 Trillion

January 7, 2021
Litecoin price prediction_ LTC to $180, analyst

Litecoin price prediction: LTC to $180, analyst

January 7, 2021
Ripple price prediction: Rise to $0.45 ahead, analyst

Ripple price prediction: Rise to $0.45 ahead, analyst

January 7, 2021
Bitcoin price prediction: BTC to $43,000, analyst

Bitcoin price prediction: BTC to $43,000, analyst

January 7, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Exclusive Partners of

Footer 3

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2020 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.