Ethereum miners don’t sell their ETH, they collect and hold it
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Answer Ethereum miners don’t sell their ETH, they collect and hold it
Many people expect Ethereum miners to sell their mining and get their money back instantly.
Show graph statement On Reddit this is not the case:
In fact, the graph indicates that they are collecting ETH coins continuously and at a high rate.
Interesting behavior by Ethereum miners
Given the recent rise in the price of Ethereum, what is to be expected is that, after all, Ethereum miners want to maximize their profits at all times.
Sometimes, consolidation and accumulation is the most viable approach and it seems to be what happens with everyone who mines Ethereum.
As for the reason for the storage and the expectation of future profits, it remains somewhat unclear.
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One must also bear in mind that Ethereum has proven to be less volatile compared to other crypto assets.
The cumulative balance of Ethereum miners is currently nearly $300 million.
How many Ethereum miners share an optimistic view on the future price of the Ethereum coin.
According to the chart published above, it shows how Ethereum miners started storing ETH starting in late October of 2019.
This appears to be a common trend among all minable cryptocurrency miners in the market today.
Preparing for the next bull is always important in the crypto industry, however this should not come at the expense of offsetting mining costs either.
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With Ethereum’s rapid transition to a Proof of Stake mechanism, holding ETH is exciting.
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