The macroeconomic landscape of the crypto industry remained in the “worrying” territory.
Bitcoin miners had to resort to selling in order to sustain themselves throughout August recording a net outflow of 21.3k BTC. The only month when miners accumulated BTC this year was April, as per the latest edition of CryptoCompare’s AssetThe price of the world’s largest cryptocurrency remained below $24k for the most part in August and even traded beneath $20k for a few weeks, which in addition to a high hash rate that rose 5.28% to 212 million TH/s, forced miners to offload their tokens.
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