Bitcoin Miners Transfer $174M Worth of Coins to Exchanges in Two Weeks

Transfer of bitcoin (BTC) from miners to centralized exchanges has picked up the pace since May 31, according to data tracked by blockchain analytics firm Glassnode.Data from Glassnode shows miners or entities minting coins by verifying transactions on the blockchain have moved 6671.99 BTC ($174 million) to exchanges since May 31. On June 3 alone, miners moved 2,606 BTC to exchanges, the largest single-day tally in over four years.The 14-day average of miner transfers to exchanges has increased sharply to 489.26 BTC, the highest since March 2021. Meanwhile, the balance in wallets associated with miners has decreased by nearly 2,000 BTC in two weeks.

Source: Bitcoin Miners Transfer $174M Worth of Coins to Exchanges in Two Weeks