The Block analyst Larry Cermak reports that Ethereum miners earned $ 143.8 million in July, the highest in 23 months.
Interestingly, in recent months, the share of miners’ income not from block mining, but from transaction fees has been growing significantly. Of the total revenue of $ 143.8 million, transaction fee income was 23%, or about $ 33 million. By comparison, in May, commission income accounted for only 10% of total miners’ income.
Bitcoin miners generated $ 299 million in July, nearly double that of Ethereum miners. In July, bitcoin miners received 8% of the income from commissions, and in June this figure was 4%. At the same time, over the month, the average transaction size in the network of the first cryptocurrency grew by 525%.
Chermak also said that in July, the volume of stablecoins continued to grow – the total capitalization of the stable cryptocurrency market amounted to $ 13.2 billion.For comparison, in June it was $ 12 billion.There was also an increase in trading volume on cryptocurrency exchanges in July, immediately by 51%.
In mid-July, it was reported that from April to June, miners were constantly reducing the sales of mined BTC. They were waiting for the opportunity to sell bitcoins at a higher price and, as we can see, the miners’ expectations came true, because bitcoin broke through the resistance at $ 10,000 and reached $ 12,000.
