Bitcoin miners appear to be stockpiling their earnings
Key Points from Kraken blog:
Miners appear to be holding for the long-term
Data suggests there has been little profit-taking from long-term holders -Aoyon Ashraf
0-hop supply has risen by nearly 50% since September
0-hop supply is a simple metric to determine mining pool behavior, as it tells us whether the validators of the Bitcoin network are holding the coins they’ve mined. It assumes that coins that have not moved (or ‘hopped’) at least once have not been sold or paid out to miners.
