The transaction amount was 4400 BTC

Miners sold $82,5 million worth of bitcoins in five days

07.09.2022 - 10:50

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2 min

What’s new? On September 2, miners transferred 4400 BTC ($82,5 million at the current rate) to the Binance crypto exchange, according to analytics platform QryptoQuant. The transaction came from the Poolin mining pool. This is the fourth-largest transaction from miners to exchanges in the last two months. As of September 7, 10:55 UTC, the first cryptocurrency is trading at $18 757, down by 5,85% in 24 hours.

What happened before? Previous transactions between miners and exchanges:

  • May 12: 2600 BTC ($48,7 million);
  • June 16: 4700 BTC ($88,1 million);
  • June 22: 5700 BTC ($106,9 million).

What is known about Poolin? It is the largest international mining pool, which is owned by Blockin. It supports the mining of a large number of cryptocurrencies, including BTC, ZEC, and LTC. In September, Poolin acknowledged the problem of liquidity shortages. In this, the company’s founder and CEO Kevin Pan said that users’ funds are safe.

On August 29, the number of permanently lost bitcoins exceeded 4,7 million. Since the issue of the first cryptocurrency is algorithmically limited to 21 million coins, the loss of some assets means that the actual circulating supply will never reach a similar mark.

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