CRYPTOCURRENCYEthereum miners on steroids, earn $500

 Ethereum miners are cashing in big-time. This feat is triggered by transaction costs on the Ethereum network recently reaching a new hourly record.

Data retrieved from Glassnode, a crypto analytics firm, revealed that ETH miners on the network earned a staggering $500,000 in just one hour as Ether (ETH) surge.

Presently, Ether is trading at about $480, gaining more than 8%.

READ: Bitcoin Mining just got harder, as mining difficulty reaches an all-time high

#Ethereum miners earned over $500,000 USD in transaction fees in the past hour.

That is a new record high for a single hour (anomalous transaction fees earlier this year excluded).

Chart: https://t.co/RZz5yMV44U pic.twitter.com/fmyD5zZSYs

— glassnode (@glassnode) September 1, 2020

 

This prevailing macro is sure positive for Ether miners whose turnover has increased by higher fees and more transactions. In fact, Ethereum’s network hash rate has been growing consistently, having reached a near two year high.

Santiment Research Company a crypto analytic firm, gave graphic insights on how ETH fees in U.S dollar terms, had broken all-time highs yet again. Fees have hit $5.68, dwarfing its previous ATH of $3.46 by a wide margin.

READ: Ethereum wallets holding at least 0.1 ETH just crossed the 3 million mark for the first time

$ETH fees (in $USD) have broken all-time highs yet again. Fees have hit $5.68, dwarfing its previous ATH of $3.46 by a wide margin. $USDT, $WETH, $LINK, $USDC, $YFV #Uniswap, #Curvefi.