
Vitalik: We're moving to PoS
Miners: Maybe wait a few more years— Stan Schroeder (@franticnews) September 2, 2020
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-3.53%Reading
Just a day after yielding over half a million dollars in transaction fees in one hour, Ethereum miners’ average hourly revenue surged to $800,000 today, according to crypto analytics platform Glassnode.
“Average Ethereum miner revenue from fees has surged to $800,000 per hour (!) in the past 24 hours,” Glassnode tweeted.
According to the platform’s data, the amount that Ethereum miners bring in from transaction fees on a daily basis skyrocketed on September 1, reaching $16.5 million. For comparison, this figure amounted to “only” $8.1 million on August 31.
This is largely due to a massive surge in Ethereum transaction fees and it means that the daily revenue of miners more than doubled in just one day.
Apart from these spikes, daily Ethereum transaction fees hovered between roughly $140,000 in January and $2 million on August 8.
Larry Cermak, director of research at The Block, pointed out that current numbers are way bigger than those registered during the cryptocurrency all-time highs of 2017. Furthermore, Ethereum miners are currently earning significantly more money than their Bitcoin colleagues.
Vitalik: We're moving to PoS
Miners: Maybe wait a few more years— Stan Schroeder (@franticnews) September 2, 2020
“In comparison, Bitcoin miners generated $1.5 million in fees yesterday - only 9% of Ethereum miners. Bitcoin's ATH fees were $21.4 million in December 2017,” Cermak tweeted.
On the other hand, while Ethereum miners are raking in tons of cash, regular users and experts alike are becoming increasingly concerned that fees are getting out of hand.
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Japan’s ruling Liberal Democratic Party (LDP) has proposed a significant reduction in the tax rate on crypto gains in an effort to overhaul its crypto tax regime. In a draft released Thursday, LDP lawmaker Akihisa Shiozaki introduced a plan to reduce the tax rate on crypto gains from 55% to 20%. 自民党・デジタル社会推進本部にてweb3WGの制度改正案が公表。暗号資産を金商法上の有価証券とは異なる新たなアセットクラスとして位置付け、市場の発展、投資家保護、分離課税を実現する案です。なお、制度改正案については、3月31日まで広く皆さまのご意見・提案を募集します。(資料は↓のWGブログ… pic.twitter.com/CEc1f9wiPe — 塩崎あきひさ 【衆議院議員・愛媛1区】 (@Aki...
Global fiat on/off ramp service Transak has obtained its Digital Currency Exchange (DCE) registration in Australia, marking a major step in its international expansion. The company received its DCE registration from the Australian Transaction Reports and Analysis Centre (AUSTRAC), allowing it to operate as a fully compliant exchange in the country. Akin to a Virtual Asset Service Provider (VASP) license in other parts of the world, this regulatory approval is critical for Transak, ensuring compl...