Ethereum (ETH) Miners Are Cashing In
There have been all kinds of bullish predictions about the price of Etehreum these days and at the beginning of this year as well.
This is due to the fact that the coin is backed by very strong fundamentals.
You may recall that back in March, IBTimes was writing that “Also, the case for a $500 Ether before the end of the year is asserted by crypto whale Angelo฿TC, who has a history of making accurate predictions.”
Angelo฿TC tweeted the following message:
Good luck, have fun.
— Angelo฿TC (@AngeloBTC) February 18, 2020
Anyway, at the moment of writing this article, ETH is trading in the green juts like the most important coins in the market.
ETH is now priced at $396.14.
ETH fees are on the rise
ETH fees are on the rise, as revealed by data from Glassnode. In other words, this means that ETH miners are cashing in big-time since over 42% of the miner revenue is currently derived from fees.
#Ethereum fees continue to skyrocket: over 42% of the miner revenue is currently derived from fees (hourly chart, 24h MA).
— glassnode (@glassnode) August 11, 2020
More than that, it’s been also reported that info that has been obtained from BitInfoCharts revealed that the median ETH transaction fees generated are almost at their second-highest level ever.
In addition, information obtained from BitInfoCharts revealed that the median Ethereum transaction fees generated are almost at their second-highest level ever.
A mid-2018 surge saw ETH transaction fees reach around $0.912. Recently, it hit the $0.879 mark.
The latest reports note that popular crypto trader, Joel Kruger, addressed his shock at the massive fees that many are suddenly being asked to pay on the Ethereum network.
#Eth transactions fees right now. 😬
— Joel Kruger (@JoelKruger) August 11, 2020
Stay tuned for more data about ETH.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.