On-chain data shows the Bitcoin mining pool BTC.com deposited a huge amount of the cryptocurrency to Binance in October.

BTC.com Mining Pool Has Potentially Been Selling Bitcoin This Month

As explained by an analyst in a CryptoQuant Quicktake post , Bitcoin miners connected with BTC.com have made large transactions to Binance recently. The on-chain metric of interest here is the “ Miner to Exchange Flow ,” which measures the total amount of the cryptocurrency that’s flowing from miner-related wallets to a given centralized exchange.

In the context of the current discussion, the version of the metric that’s relevant is the one involving only the wallets connected to the BTC.com mining pool on the sending side and Binance as the receiver.

Generally, the main reason miners transfer

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