Description

Percentage of Miner Supply Spent is the daily percentage of miner balances that have been sold, vs accumulated. Also known as Miner Supply Sold.

Bitcoin miners often have to sell accumulated Bitcoin to pay for expenses or profit sharing. As Bitcoin miners sell more of their mined tokens, the Bitcoin supply in the market is increased. Miner sell-offs can present downward pressure on Bitcoin prices.

In addition, miners are often a sign for network health as more miners improve decentralization. Miners accumulating tokens is a bullish signal as these tokens take longer to move into the market supply.

Use Case

Trader

Traders can use this metric to sell ahead of miners.

Analyst

Analysts can track this metric to evaluate and compare the health of the network.

Researcher

Researchers can use this metric to identify correlations between miner activity and overall market sentiment.

Methodology

Percent of Miner Supply Sold = Spent Tokens from Miners / Supply.

Frequently Asked Questions

How often is this chart updated?

• Daily.