Cryptocurrencies
Keep an Eye on What Bitcoin Miners Are Doing During This Rally
- Researcher says more digital coins are being sold than mined
- Miners often sell new coins to meet operating expenses
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Bitcoin bulls may want to pay closer attention to the miners.
In the last 24 hours, the companies whose computers perform the calculations that validate each transaction and are rewarded with new digital tokens, sold more coins than they mined, according to data from Cryptocomposite.com, a soon-to-be-launched analytics provider. Miners sold $17.3 million of coins, while they earned around $14.4 million, the company said.