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Poolin sent over 5K Bitcoin to exchanges since May 30

The Poolin mining pool signals further distress as its BTC to exchanges count continues to climb.

James Van Straten
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James Van Straten
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Quick Take

  • On June 5, CryptoSlate reported that a high volume of Bitcoin was being sent from miner balance to exchanges.
  • Further analysis has confirmed a significant proportion of the miner outflow is attributable to the Poolin miner pool.
  • Poolin sent 1,200 Bitcoin to Binance yesterday. This takes their total BTC outflow to 5,800 since May 30.
  • CryptoSlate had previously reported that Poolin was experiencing distress, leading to a 94% decline in their hash rate from all-time highs.
Miners to exchanges: (Source: Glassnode)
Miners to exchanges: (Source: Glassnode)
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James Van Straten
James Van Straten
Former Lead Analyst CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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