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ETHEREUM HODLING HITS A RECORD HIGH AS MINERS KEEPS HODLING

The HODLING of Ethereum by its miners might just have hit a new all time high since 2016 as they are optimistic that Ethereum price will skyrocket in the future.

A long term HODL(Holding) of Ethereum (ETH) has been reported to have surpassed the previous All time high record since 2016 in Relation to the US Dollar, as miners of this digital currency have been slow to the option of selling.

Santiment, an analytic platform which reported this new feat and record, stated that this is the highest level Ethereum (ETH) have experienced in terms of HODLING for long term by its miners since the invention of the digital assets five years ago. It is estimated to be around $1.85 billion when converted to the US dollars.

With the total circulating supply around 117 million Ethereum, sentiment have also reported that the total balance held by the miners is equivalent to be around 45% of the supply available.

Before now, miners are said to sell off their digital assets and crypto so as to be able to pay off expenses like electricity use charge and hardware replacement fee as these are vital tools needed to run the mining operation. This has not been the case for the miners of Ethereum, as the report above has indicated that the miners are not selling as they are HODLING and hoping for a higher future price of the asset.

Ethereum which is the second most valued crypto in the world sitting just behind the world’s most used and famous Crypto Bitcoin, with a market value of $3,578 as at today. The miners look to continue HODLING as they expect an increase in the price.

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