If you want to blame someone for the ups and downs of the Ethereum price, do not mistake miners to be the problem, because they are not, according to finding of a new report.
A Coin Metrics study of the crypto currency network miner activity showed that there was only a small connection to mining and market corrections.
Amalyst Senior R&D, Kerim Helmy wrote: “Miner holdings have also generally grown over time as a percentage of the [Ethereum] network’s total supply,” and conceded that “because they’re natural sellers of the asset they’re securing, miners are frequently blamed for market volatility,” he added. “Correlation analysis appears to support the lack of a substantial relationship between changes in miner selling and market volatility.”
The author explained that the role of miners in Ethereum’s price volatility is as minimal as in Bitcoin prices. He also noted that “mining is generally very opaque”, plus “arguably even more true for ethereum than bitcoin”.