Bitcoin’s big change: miner volume share drops after halving and that means…

• The volume of Bitcoins contributed by miners has fallen since April 19
• This has fueled the low rate at which new Bitcoins are created and put into circulation

The part of Bitcoins [BTC] the volume contributed by miners to its network has steadily declined since the last halving event, according to the latest finding from IntoTheBlock.

Bitcoins last half The event took place on April 19th. Aiming to reduce the amount of BTC in circulation, the event halved miner rewards, from 6.25 BTC to 3.125 BTC.

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Due to the reduction in the total amount of coins received by miners on the Bitcoin network, their share of the total coin volume often decreases after a halving event.

IntoTheBlock further noted that the decline in BTC miner rewards has also slowed the rate at which new BTCs are added to the coin’s total supply. In truth. the on-chain data provider found that the prevailing inflation rate was around 1.66% on the charts.

Mining activity on the Bitcoin network

Since the halving, the BTC miner supply rate has fallen slightly, according to CriptoQuant’s data. This metric measures the proportion of new coins added to the total BTC supply by miners.

When it decreases in this way, the share of new coins added to the total BTC supply by the network’s miners drops. Until now, the value of this metric was 0.09, having fallen 0.1% since April 19th.

Source: CryptoQuant

Additionally, there has been a small decline in BTC miner reserves since the conclusion of the halving event. With a value of 1.8 million BTC at press time, this is down 0.11% since April 19th.

This metric measures the amount of coins held in the wallets of affiliated miners. Its value indicates the reserves that miners have not yet sold.

To read Bitcoins [BTC] Price prediction 2024-25

This is a testament to the fact that although some miners on the network sold some of their coin holdings to book profits after the halving event, there was no significant selling activity.

This was confirmed by the drop in the coin’s Miner to Exchange Flow. Assessed using a seven-day moving average, this is down 76% since the last halving.

Source: CryptoQuant

Finally, the Miner to Exchange Flow metric measures the amount of BTC flowing from miners to exchanges. When this metric decreases, it means that miners are selling fewer coins.

The decline seen in BTC’s Miner to Exchange Flow revealed that miners on the coin’s network continued to maintain a bullish outlook despite recent price performance.

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