The Ethereum Merge in September 2022 did not lead to the desired price increase that some miners were hoping to see, as thousands of ETH were dumped. This according to a graphic that displays how much of the cryptocurrency was held on blockchain addresses known to have mined them. When the bear market started in May 2022, several miners started to gather rewards of Ethereum as they were hoping prices would increase after the Merge. This did not happen, with several miners starting to sell their ETH and looking for other profitable Proof-of-Work cryptocurrencies.
Total number of Ethereum (ETH) held in balance on miner addresses September 2019 to September 21, 2022
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Total number of Ethereum (ETH) held in balance on miner addresses September 2019 to September 21, 2022
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Website (OKLink). (September 22, 2022). Total number of Ethereum (ETH) held in balance on miner addresses September 2019 to September 21, 2022 [Graph]. In Statista. Retrieved April 26, 2025, from https://www.statista.com/statistics/1334722/ethereum-held-by-miners/
Website (OKLink). "Total number of Ethereum (ETH) held in balance on miner addresses September 2019 to September 21, 2022." Chart. September 22, 2022. Statista. Accessed April 26, 2025. https://www.statista.com/statistics/1334722/ethereum-held-by-miners/
Website (OKLink). (2022). Total number of Ethereum (ETH) held in balance on miner addresses September 2019 to September 21, 2022. Statista. Statista Inc.. Accessed: April 26, 2025. https://www.statista.com/statistics/1334722/ethereum-held-by-miners/
Website (OKLink). "Total Number of Ethereum (Eth) Held in Balance on Miner Addresses September 2019 to September 21, 2022." Statista, Statista Inc., 22 Sep 2022, https://www.statista.com/statistics/1334722/ethereum-held-by-miners/
Website (OKLink), Total number of Ethereum (ETH) held in balance on miner addresses September 2019 to September 21, 2022 Statista, https://www.statista.com/statistics/1334722/ethereum-held-by-miners/ (last visited April 26, 2025)
Total number of Ethereum (ETH) held in balance on miner addresses September 2019 to September 21, 2022 [Graph], Website (OKLink), September 22, 2022. [Online]. Available: https://www.statista.com/statistics/1334722/ethereum-held-by-miners/
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