Poolin sent over 5K Bitcoin to exchanges since May 30

Quick Take

• On June 5, CryptoSlate reported that a high volume of Bitcoin was being sent from miner balance to exchanges.
• Further analysis has confirmed a significant proportion of the miner outflow is attributable to the Poolin miner pool.
• Poolin sent 1,200 Bitcoin to Binance yesterday. This takes their total BTC outflow to 5,800 since May 30.
• CryptoSlate had previously reported that Poolin was experiencing distress, leading to a 94% decline in their hash rate from all-time highs.

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