Coinbase said that the direct sale of new Bitcoins (BTC) mined by miners to the market does not create significant selling pressure on Bitcoin.
In the report prepared by Coinbase, if all newly issued Bitcoins are sold directly to the market every day, this only 900 BTC (approximately $18 million) will equate to the selling pressure. crypto exchange Coinbase (COIN) stated in a research report last week as follows; “During Bitcoin mining cyclical dips as a common concern of miners how many Bitcoins he sells.”
When the market is turbulent and the Bitcoin price is falling, profit margins generally shrinks and attracts more miners. force to be a net seller. However, even if all newly minted Bitcoins are immediately sold to the market every day, this 1-1.5% of the total daily volume It will equate to a selling pressure of only 900 BTC, representing According to the report, a healthier Bitcoin derivatives market should offer miners more options in terms of potential hedging strategies.
Mining companies, which have expanded aggressively in recent years and strengthened their balance sheets in this process, no longer operate. to restructure It was stated that they had difficulties in the mining sector in the second half of the year. consolidation opportunities should be presented”. Although a stable balance has not been achieved in Bitcoin processing power, according to the data difficulty level keeps increasing. The increased level of processing power makes the Bitcoin network stronger and new mining devices Indicates that it is connected to the network.