Miner Purchases and Sales
Value is driven by the intersection of supply and demand - here are some factors to help you understand where the “value” (and price) of a crypto currency could go next.
Miner purchases are the sum USD value of all non-fee transfers received by all mining entities from crypto exchanges during a specific interval. High purchases showcase high demand for crypto, and imply potential bullish price action. On the other hand, low purchases showcase low demand, and imply potential bearish price action.
On the supply side, miner sales can be used as a proxy for the primary supply of a mineable coin. High miner sales correlate with high supply, which shows ease of mining, and hence point to potential bearish price action. Low sales correspond to low supply, showing the difficulty to mine, and hence point to potential bullish price action.