ETH miners on the network earned a staggering $ 500,000 in just one hour.
September 1 income levelminers Ethereum 3.7 times exceeded the highs of 2017 and 2018, when ETH was worth $ 1000. Ethereum is currently trading at $ 440 and miners have earned a record $ 17 million.
According to the cryptoanalytic platform Glassnode, the Ethereum blockchain miners have set a new record, earning half a million dollars in transaction fees in just one hour.
This factor is undoubtedly positive for miners.ETH, whose income has increased due to higher fees and more transactions. In fact, the hashrate of the Ethereum network is constantly growing, reaching a nearly two-year high.
At the same time, as record earnings pleaseminers, the Ethereum community expresses concern about high and steadily increasing transaction fees. The Ethereum network has been experiencing constant problems with high transaction fees and congestion since the advent of DeFi tokens. In addition, the network has recently increased the maximum gas amount per block from 10,000,000 to 12,500,000 gas.
As mining ETH becomes moremore complex due to the increase in the number of miners, its cost will also increase as more computing power, software and electricity are required.
Larry Cermak, an analyst at The Block, believes that ultimately the mining hardware manufacturers will benefit the most from this situation. The increased demand can lead to its rise in price.
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