Ethereum miners making huge profits from transaction fee

Ethereum miners making huge profits from transaction fee

Ethereum is world's second largest crypto currency in the World

Ethereum is on news for its surging high transaction fee for a while now

Recently daily revenue from ethereum transaction fee has doubled in just one day

After yield farming volume on ethereum reached over 1 million dollars average transaction fee surged to $800,000 for mining a whole block

This gave ethereum miners to make more in profit from only transaction fees

According to crypto analysis platform Glassnode average miner revenue from fee has surged to $800k in one hour.

The amount of revenue that ethereum miner bring in from transaction fee on daily basis skyrocketed since september 1 (2020)

The total revenue from only transaction fees reached above $16.5 million 

This is largely due to massive surge in ethereum transaction fee and high demand usage of decentralized finance.

High raise in transaction fee has doubled miners profit in one day only from transaction fee.

Resulting more profits for the miners and more craze in the market.

Last time during bitcoin bull run in 2017 bitcoin miners made nearly this sum of money by mining bitcoin.

Now, Ethereum miners are making significantly higher profit than bitcoin miners.

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