Which Cryptocurrencies Provide the Largest Miners Income?
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In this article, we will tell you about the most profitable cryptocurrencies for miners and how much they have earned in recent months.
Bitcoin and Ethereum Provide 99% of Miners Income
Bitcoin and Ethereum account for more than 99% of the commissions received by all miners.
Over the past 24 hours, the total amount of commissions in the bitcoin network has amounted to $407,571. Ethereum has a much higher rate – $814,082. Using most blockchains is “virtually free”.
#Bitcoin and Ethereum combine for more than 99% of all miner fees
For now, most blockchains are virtually free to use.
— Messari (@MessariCrypto) July 1, 2020
In third place is NEO, where the daily commissions amounted to $1800. For Litecoin, the fourth position, this figure was $376.
We also highlighted Dogecoin which is located on the sixth line of the rating. The cryptocurrency, which occupies 34th place by capitalization per day, provided miners with commissions of $249.5.
Bitcoin and Ethereum Transfer Fees
The problem of high commissions on the Ethereum network is noted by many traders. The median has increased 10.3 times in the last three months, reaching $0.337.
In the Bitcoin network, in contrast, there is a decrease in the cost of the commission. If on May 20 the median reached $ 3.915, now this figure has dropped to $ 0.875.
Recall, on June 30, at block # 637 056 in the bitcoin network, the planned recalculation of mining complexity took place. Read more about this on our website. The indicator has undergone the most insignificant change since March 22, 2010, having decreased by only 0.0033%
Last month, the total income of miners fell by almost a quarter. This is a consequence of the May decrease in block rewards and lower transaction fees.
In May, miners received $366 million in revenue, in June this figure was $281 million.
The following graph shows that against the backdrop of halving, the size of the mempool has grown significantly. This has led to an increase in transaction fees.
Then, at the turn of May – June, the mempool was released. This led to a significant reduction in transaction fees and, accordingly, a slight decrease in the income of miners.
In June, the share of commissions in the structure of miners’ income amounted to 4.3% ($12 million). In May, this figure was 8.3%. The volumes of transactions in the first and second quarters of this year were approximately the same.
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