Ethereum
Miners Generated Record Revenue From Transaction Fees Last Month
Ethereum miners have seen their
revenue from transaction fees go up in June to hit a new all-time high of
nearly 17% of the total revenue generated, up from 10% in May.
Cryptocurrency miners generate
most of their revenues through block subsidy rewards and transaction fees.
The increase in fees on Ethereum was likely fuelled by Ethereum-based Ponzi
and marketing schemes that have become some of the network’s biggest
spenders, and by the yield farming trend.
Yield farming sees users
interact with decentralized protocols more and more, paying transaction fees
along the way with each interaction. In comparison, bitcoin transaction
fees as a share of miner revenue saw a 10% decline in May to hit 4% of total
revenue in June.
Average BTC fees per
transaction, it’s worth noting, decreased on said period.
