๐ธ According to data released by the IntoTheBlock platform, the share of Bitcoin (BTC) minersโ transaction volume has dropped to less than 5% of total network transactions.
๐ธ The decline, which is below the 2017 low, follows a temporary spike late last year.
๐ธ Analysts point to two main reasons for the decline: an overall increase in network activity and the influx of new capital, which has reduced the relative share of miners, and a decrease in mining rewards during each halving period, which has led to a decrease in the amount of capital available to miners.
๐ธ This downward trend has also been observed in previous bull market cycles and may signal a change in the pattern of minersโ activity.
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