Ethereum Miners Hold 14.23% of Total Supply

02/21/2023 03:15 • Blockchain Briefs • 87 views

On February 21, according to the data of OKLink multi-chain browser, the address balance of Ethereum miners on the chain exceeded 17 million ETHs yesterday, accounting for 14.23% of the current total supply of Ethereum, an increase of 909000 ETHs from the beginning of 2023.

The address balance of Ethereum miners exceeded 17 million

Analysis based on this information:

Ethereum is one of the most well-known and widely used cryptocurrencies in the world. Unlike Bitcoin, which has a hard cap on the number of coins that can exist, Ethereum is designed to continue producing new coins indefinitely. This means that the total supply of Ethereum can continue to grow over time. As of February 21, 2021, the total supply of Ethereum was approximately 119.5 million ETHs.

According to the data provided by OKLink multi-chain browser, the balance of Ethereum held by miners exceeded 17 million ETHs on February 21. This represents an increase of 909,000 ETHs from the beginning of 2021. The 17 million ETHs held by miners accounts for 14.23% of the current total supply of Ethereum.

Since mining is an essential part of the Ethereum network, it makes sense that miners hold a significant portion of the cryptocurrency’s total supply. Miners are responsible for verifying transactions and adding them to the blockchain. As a reward for their work, they receive a certain amount of Ethereum each time they successfully mine a block.

The fact that miners hold such a large percentage of Ethereum’s total supply is not necessarily a cause for concern. In fact, it can be seen as a sign that the network is healthy and functioning as intended. It also indicates that there is a significant amount of activity happening on the network, as miners wouldn’t be able to mine so much Ethereum if there weren’t enough transactions to verify.

It’s worth noting that while miners hold a significant amount of Ethereum, they are not the only ones who own the cryptocurrency. Ethereum is used by individuals and businesses all over the world, and its value is determined by supply and demand on the open market.

In conclusion, the fact that Ethereum miners hold 14.23% of the total supply of the cryptocurrency is a testament to the health and activity of the network. As the demand for Ethereum continues to grow, it will be interesting to see how this percentage changes over time.

keywords: Ethereum, Miners, Total Supply.

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Ethereum Miners Hold 14.23% of Total Supply

The address balance of Ethereum miners exceeded 17 million

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