Dec 5, 2019 ⋅ 1 min read
A new report from cryptoasset hedge fund Paradigma Capital takes a deeper look at the impact Bitcoin miners have on the market. The study highlighted that miners control a small share of on-chain volume, and when off-chain volume is taken into account, bitcoin miner volume is minuscule.
Paradigma carried out a correlation analysis to assess if there is any association between miners moving funds to exchanges and bitcoin price returns. While little to no association was found, the answer may not be as straightforward as “miner behaviour has no impact on bitcoin price”. CEO of Blockware Solutions Matt D’Souza pointed out that miners movement of capital holds more importance than off-chain trading volume as it represents fresh supply applying sell pressure on the market.
Why it matters:
Let us know what you loved about the report, what may be missing, or share any other feedback by filling out this short form. All responses are subject to our Privacy Policy and Terms of Service.
Gain an edge over the market with professional grade tools, data and research.
Already a member? Sign in
Gain an edge over the market with professional grade tools, data and research.
Already a member? Sign in