Miners have reduced bitcoin sales, and 5 services store more than 50% of cryptocurrencies that were obtained illegally
Glassnode believes that “miners have reduced bitcoin sales, and investors are taking profits”
According to the research company Glassnode, miners have begun to accumulate reserves in bitcoins. Long-term investors, on the other hand, are trying to get rid of their assets in order to lock in profits.
The Glassnode report says that in January, miners were actively selling almost all of the mined BTC, however, in February, the volume of sales decreased significantly. This could mean that miners are hoping for an increase in the value of bitcoin.
“This suggests that miners have either completed adequate sales to cover costs, or could also mean they see Tesla’s vote of confidence as fair reason to keep a strong grip on their treasuries,” analysts say.
Analysts: 5 services store more than 50% of cryptocurrencies that were obtained illegally
Chainalysis experts concluded that 55% of digital currencies that were obtained fraudulently or with the help of ransomware viruses are laundered through just 5 services. These services use about 270 unique deposit addresses.
Analysts believe that the largest processors of illegally obtained crypto coins receive about $25 million a year. Serving such illegal transactions may be their main activity.
Experts believe that suppressing the illegal activities of such deposit addresses will help shut down most of the infrastructure that now exists for laundering crypto assets.