Record fees at Ethereum will not prevent DeFi from growing for the time being. Bitcoin is also recovering slightly, but a major miner sale is on the horizon. The market update.
Bitcoin price up, miners ready for sale?
After a short-term slide, the Bitcoin price can heave again well above the psychological support at 11,500 US dollars and work its way up to 11,840 US dollars. At the time of writing, BTC is trading at $ 11,7400 – a modest 1.58 percent up on a 24-hour basis. It is not known whether Galaxy Digital’s advertising campaign in the Financial Times played its part. In any case, Barry Silbert from the Bitcoin fund manager Greyscale is happy about the action of his colleagues: https://twitter.com/barrysilbert/status/1293882537492840449
However, the Bitcoin price may be about to take a dip in the short term: The blockchain data supplier CryptoQuant has registered a massive Bitcoin transaction on the Binance exchange. Behind the 800 BTC heavy deposit is the Mining Pool Poolin. A bigger sale could follow. However, the volume would not be large enough to seriously affect the Bitcoin price. But the sale could send a signal to other miners.