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Cryptocurrency miners began to massively withdraw bitcoin on exchanges

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Cryptocurrency miners began to massively withdraw bitcoin on exchanges

Cryptocurrency miners began to massively withdraw bitcoin on exchanges
CONTENT

  • Meanwhile, Bitcoin price plummets below $ 11,000

  • Earlier, some Chinese miners were blocked from access to cheap electricity

  • At the end of August, an unknown bitcoin whale flooded over 12,700 bitcoins on the Kraken exchange

International consortium of news organizations developing transparency standards.

Cryptocurrency withdrawal comes after Chinese authorities refused to offer subsidized electricity prices

Cryptocurrency miners began to massively withdraw bitcoin on exchanges

In early September, bitcoin miners began to massively withdraw cryptocurrency on exchanges.

Starting from September 1, at least the mining pools PoolinCryptocurrency is not only an alternative to traditional money, but also a tool for earning. To process transactions in the network of coins, a computing … More, Antpool and Slush Pool have withdrawn over 3500 bitcoins worth more than $ 40 million.

Source: cryptoquant.com

The record holder for abnormally large withdrawals of bitcoins turned out to be the oldest mining pool Cryptocurrency is not only an alternative to traditional money, but also a tool for making money. To process transactions in the network of coins, a computing … More Slush Pool (almost 630 bitcoins were withdrawn per day).

On an equal footing

In general, mining pools almost always sell mined cryptocurrency in the markets, however, the current withdrawal of cryptocurrencies differs significantly in volumes in the daily range..

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Cryptocurrency miners began to massively withdraw bitcoin on exchanges

Crypto Sale Comes One Week After Crypto Miners In Inner Mongolia, China No Longer Receive Subsidized Electricity Prices.

BeInCrypto previously reported that the decision to restrict access to subsidized prices seems to be related to the lack of benefits for local authorities..

Local reporter Colin Wu said the increase in energy costs for miners could end up by over 33%.

Backdating

The Chinese mining community is concerned that the restrictions will also apply to Xinjiang, the nearby mountainous region of China..

Meanwhile, the price of bitcoin in the market fell below $ 11,000.

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At the time of this writing, the price of BTC / USDT is $ 10,842, according to the resource CoinMarketCap.

At the end of August, the editorial staff of BeInCrypto reported an abnormally high deposit from the bitcoin whale, which brought over 12,700 bitcoins to the Kraken exchange for $ 150 million.

Cryptocurrency miners began to massively withdraw bitcoin on exchanges

Such a sharp replenishment of the exchange’s balance turned out to be the largest in the summer of 2020.

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