Bitcoin Miners Go On $1.71 Billion BTC Selling Spree, What Are They Buying Next?
Bitcoin miners have sold over $1.71 worth of BTC in the past 72 hours, and investors are wondering what they may be buying next. While Bitcoin miners often have various reasons to sell their BTC, experts are confident that they may be exploring new crypto investment options to boost their holdings.
Meanwhile, the new presale token ETFSwap (ETFS) has recorded some massive purchases in the past few days. These huge purchases coincide with recent miner activity as the token is in its final presale stage.
ETFSwap (ETFS) Offers Massive Investment Opportunity To Crypto Investors
ETFSwap (ETFS) has grown as an investment pick over the past few months, attracting retail and institutional investors alike to the presale. The new platform aims to launch a decentralized trading platform for ETFs, for its kind, and especially a unique blockchain solution poised for massive gains.
ETFSwap (ETFS) will launch on the Ethereum blockchain, capitalizing on the network’s improved security, transparency, and robust DeFi network. The new ETF platform is considered the next big launch in the crypto market, promising impressive gains for the earliest investors.
Moreover, ETFSwap (ETFS) is solidifying its position as the better alternative for trading against existing centralized platforms. The emerging ETF platform promises features including faster ETF settlements, rapid crypto-to-ETF swaps, staking and lending, lower trading costs, and new smart contract-enabled features.
Furthermore, ETFSwap (ETFS) will provide trading services, including access to real-time market data and advanced trading tools. ETFSwap (ETFS) features staple ecosystem tools, such as the ETF Screener and ETF Finder, which are designed with AI-powered algorithms to provide users with ETF recommendations.
Other trading opportunities on ETFSwap (ETFS) include market-making and futures trading, with room to boost size by up to 50x. Users will have the freedom to open and close positions at will and customize trading strategies tailored to their preferences on ETFSwap (ETFS).
The ETFSwap (ETFS) has passed a KYC audit by SolidProof, proving the legitimacy of the project and verifying the individual identity of team members.
Bitcoin Miners Liquidate Holding Amid Market Recovery
According to popular X analyst Ali Martinez, Bitcoin miners have liquidated over 30,000 BTC over the last 72 hours. Bitcoin miners have capitalized on recovering market trends to cash out their holdings, further contributing to the downward pressure on the crypto market.
Since the last BTC halving, Bitcoin miners have had a higher compulsion to sell due to the increased mining difficulty. The increased mining difficulty has made it more expensive for Bitcoin miners to add new blocks to the network. It also does not help that the BTC rewards have dropped from the initial 6.25 to 3.125 BTC, with operation costs remaining the same.
In addition to crippling factors for Bitcoin miners, the price of BTC has dropped by over 10% in the same period. With revenue for the mining sector sinking to an 11-month low in August, the sector is seeing shutdowns and acquisitions while some miners are pivoting their computing power to the AI market for GPU rendering.
As of this writing, Bitcoin (BTC) is trading at $57,504, and miners are under pressure to liquidate holdings to continue to fund operations amid recent market volatility.
Conclusion
Experts expect Bitcoin miners to continue offloading their BTC holdings when the opportunity arises, especially with an investment opportunity like ETFSwap (ETFS). The new ETF trading platform promises some life-changing profits to early investors taking advantage of the ongoing presale.
However, the presale is currently in the final phase, so you should get in now at $0.03846 before the coming moonshot at launch.
For more information about the ETFS Presale:
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About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
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Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
