Miners accumulate ETH
On 15.09.2022 Merge fork activation will take place, and after it will transition to the PoS algorithm. Based on this information, miners actively accumulate Ethereum in the hope that it will have a positive impact on the altcoin rate.
According to the OkLink information, there are 261 000 tokens on the pools, equivalent to $415 millions. Researchers admitted that the same situation took place in the Spring, 2018.
Miners choose the “saving” strategy from the confidence that the Merge will influence the rate and make it rise. Johannes Christian, the crypto-exchange Bitrue representative, supposed that ETH mining will become unprofitable soon, that is why miners are trying to take maximum from the remaining time.
BitinfoCharts points out that calculating capacities has been growing since the second half of August. The miners’ activity has been on the top since June. Let’s recall that in August the cost of ETH was above $2000, but the pressure from the sellers side made it go down.