The Results Of halving: Miners Sell More Than Mine
Crypto miners still can`t overcome the consequences of last month`s halving, so they sell more coins than they mine, specialists from Arcane Research shared.
Analysts use the Miner’s Rolling Inventory [MRI] metric, with which they track the difference between bitcoins mined and sold.
MRI growth right after halving
Look at the chart below and you will see that MRI started to decrease between the end of March and May 11 (the day of halving), after which it began to sharply increase. To date, it is near 105%.
For those who don`t understand the principle of calculation: if the MRI is below 100%, this means that crypto miners mine more than they sell and vice versa. This is directly related to the reduction of the reward for the found block and in order to level their losses, miners have to sell their Bitcoins.