Market Report: ETH Mining is more Profitable Than Bitcoin

By CryptoUser | CryptoPublisher | 8 Jun 2020

A strong growth of transaction fees is regstered on the network.
ETH/USD found support at $243.35 during early Asian hours.

Ethereum transaction fees have been growing recently as strong demand for smart contracts led to an increased number of ETH transactions.

As a result, the daily Ethereum network fees amounted $498,000 and thus surpassed Bitcoin fees ($308,000) on June 6, according to the statistical data provided by blockchain analytics startup Glassnode. The company also noted that that was a rare situation that only happened on 141 days or 8% of time.

The experts believe that the flipping might have been caused by the growing popularity of DeFi protocols based on Ethereum blockchain and the growing demand to send ETH between exchanges amid heightened market volatility.

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