BTC Miners to Exchange Flow Increases by Approximately 216 Percent in the last 24 Hours

As the price value of the top cryptocurrency Bitcoin (BTC) has surged during the last 24 hours, the BTC miners to exchange flow have also skyrocketed. According to the recent data provided by the blockchain analytics firm Glassnode, the Bitcoin (BTC) miners to exchange flow has increased significantly by approximately 216 percent within the duration of just 24 hours.

According to Glassnode data, the value has risen from 4.792 BTC to reach 15.139 BTC which is the current value. This massive surge in Bitcoin miners to exchange flow shows that miners are continuously sending more and more Bitcoin to cryptocurrency exchanges.

Source: Glassnode

Apart from this, Bitcoin miners’ outflow volume has also witnessed a significant surge. According to the latest data shared by Glassnode, the Bitcoin (BTC) miners’ outflow volume has reached 56.858 BTC within the time period of just 24 hours. Previously, it was standing at 37.624 BTC. So, it is an increase of approximately 51 percent that this metric has shown in this duration.

Number of non-zero BTC addresses hits new all-time high

Bitcoin (BTC) which is the largest digital currency in the world by market capitalization has surpassed above the $11,000 figure recently which was a major psychological barrier for the coin. Now, it is trading happily at around $11,300 and is up by over two percent in 24 hours, at the time of writing.

As Bitcoin has entered into the bullish territory, more and more people have begun stepping into the top-ranked digital currency. According to the shared data by Glassnode in another tweet, the number of non-zero Bitcoin (BTC) wallet addresses has recorded a new all-time high within the time frame of only 24 hours. The total number of non-zero Bitcoin wallet addresses surged high to hit 31,635,651. The previous all-time high value for this metric was 31,632,409 which was noted by the blockchain analytics company on the 3rd of October.

Many in the cryptocurrency believe that Bitcoin has now started moving towards $12,000 in order to test this resistance level after sneaking through two critical levels on Friday. However, the question that traders are mainly concerned with at the moment is whether the leading digital currency would be able to touch $12,500 in the short-term trend or not.

Leave a Reply

Your email address will not be published. Required fields are marked *