BitcoinInsider

Miner outflows of bitcoin have dropped to decade lows, with analysts suggesting a hoarding mentality is partly responsible. The seven-day average of the total amount of bitcoin transferred out of miners' addresses declined to 987 on Thursday, hitting the lowest level since Feb. 3, 2010, according to data source Glassnode. The previous decade low of 988 was registered on May 23. glassnode-studio_bitcoin-miners-outflow-volume-7-d-moving-average Source: Glassnode The number of coins being sent by miners to exchanges is also at its lowest point in over a year, as noted by Glassnode in its weekly report. "It is a sign of efficient miners continuing to hoard (only selling a proportion of BTC)," said Asim Ahmad, co-chief investment officer at London-based Eterna Capital. The increase in miner holding does not necessarily have long-term bullish implications for the cryptocurrency's price. Miners tend to operate mainly on cash and liquidate their holdings almost on a daily bas...

Challenger bank startup Revolut has amended its terms and conditions, giving users 'beneficial rights' to digital currency bought through their platform. The change in terms follows the U.K. bank allowing all customers access to digital currency trading for the first time, having previously been reserved to its Metal and Premium users. While users will not be able to carry out the transactions themselves or send funds to an address other than one held by another Revolut customer, the change in terms means they will have rights to the financial value of the digital currency bought through the platform. The distinction gives users legal title to their digital currency on the platform for the first time, giving them the freedom to direct what happens to their money. "You will own the rights to the financial value of any cryptocurrency we buy for you. We will hold it on your behalf and you will have a right (called a 'beneficial right') to it. This means you can tell u...