The amount of Ethereum that is being held by miners has reached record levels in U.S. dollar terms as they remain reluctant to sell.
The balance held by Ethereum miners is the largest it has been since shortly after the network was launched five years ago. When converted into USD, it is at a historic peak of $1.85 billion, according to data provided by analytics platform Santiment.
The firm stated that the 532,750 ETH is the largest balance held by miners since July 13, 2016. The amount equates to around 0.45% of the total circulating supply of Ethereum which is currently 117.8 million ETH.
Ethereum miner balances and price – santiment.net
Miners usually sell the asset regularly to cover expenses which include electricity and hardware costs. A reluctance to