The price of Ether (ETH) followed the stratospheric breakthrough of Bitcoin (BTC). It has just achieved a new record at $ 1,790. With transaction costs that have never been higher, the income earned by miners is also at record levels. Update on the situation.
Ether (ETH) hits a new all-time high …
Bitcoin (BTC) surpassed $ 48,000 this morning , crossing a never-before-seen threshold for the largest cryptocurrency. Altcoins are therefore following the trend, especially the native Ethereum cryptocurrency (ETH) , which was already in great shape in recent weeks. Early this morning, ETH hit $ 1,790, a new all-time high:
In just over a day, the price of Ether jumped + 15%. ETH’s previous all-time high was set on February 5, at $ 1,760. Since then, the second largest cryptocurrency had fallen to $ 1,520, before starting to rise again since yesterday. ETH’s capitalization now exceeds $ 200 billion .
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… and the miners rake in substantial sums
Beyond making a few happy investors, the breakthrough of ETH also has an impact on the miners of the network. As the analysis firm Glassnode notes, miners’ incomes have skyrocketed . The transaction costs of the Ethereum network are indeed at their highest in recent days, which increases the income generated by minors:
Record Ethereum ETH miners income
Last Friday, the miners thus released 3.74 million dollars in less than an hour : this is also a record. Glassnode also points to the influence of new smart contracts on this trend:
” With gas costs which remain high […] and d are smart transaction contracts may consume the gas, which are becoming the norm, network miners earn more than ever. ”
Will it be temporary? This is possible, since a proposal for improving the network (EIP-1559) proposes to modify the way in which the fees are applied for transactions on Ethereum. In the meantime, the goose that lays the golden eggs will continue to attract miners . According to several reports, Chinese miners are buying massive RTX 3000 laptops , in order to use them to mine ETH …