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Miners Begin Accumulating Bitcoin Instead of Dumping, First Time Since Dec 27: Glassnode


u.today 27 February 2021 12:40, UTC
Reading time: ~2 m

Analyst Lex Moskovski has shared a Glassnode chart, which says that Bitcoin miners have stopped selling their BTC and have started to accumulate.

Miner Net Position indicator turns positive 

A chart from the popular analytics company Glassnode says that for the first time since December 27, the Miner Net Positive indicator has gone green.

Miners now are not in a rush to part with their Bitcoins and prefer to accumulate them after selling coins for around two months in a row.

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Grayscale crypto AUM shrinks, losing $2.6 billion in a day

The largest accumulator of Bitcoin and other digital currencies, Grayscale, has lost a staggering $2.6 billion in a single day.

The worth of Bitcoin, in particular, held by Grayscale has shrunk by $2.1 billion – from $32.832 billion to $30.724 billion.

As of February 26, the company holds a total of $36.5 billion in crypto AUM compared to $39.1 a day earlier.

On Friday, the flagship cryptocurrency plunged from the $48,179 level to the $45.305 zone.

On the same day, U.Today reported that the company had confirmed that is has been considering the launch of new crypto trusts based on popular altcoins and DeFi cryptocurrencies – Chainlink, ADA, Compound, Yearn.Finance, Monero, Polkadot, etc – a total of 23 coins is being considered by Grayscale at the moment.


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