Ethereum in August turned out to be 3 times more profitable for miners than bitcoin

CONTENT

  • Both cryptocurrencies are showing growth in a number of indicators

  • Coins have updated their maximum realized value

  • The number of cryptocurrency owners continues to grow

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Most of the participants in the top 10 of the CoinMarketCap resource capitalization rating end Tuesday with a positive movement.

As of 15:09 (Moscow time), bitcoin (BTC) is trading at $ 11,886. The daily asset growth was 1.69%. The best result of the positive movement was recorded in Ethereum. Cryptocurrency has risen in price by 8.33% in 24 hours.

Data: CoinMarketCap

Against the background of the growth of the bitcoin rate, the indicator of the realized value of the cryptocurrency reached record values. The indicator stopped at $ 6,194.

Data: GlassNode

Recall that the realized value is calculated as follows: the price of each mined coin, at the time of the last transaction with it, is added together and divided by the total amount. The growth of the indicator, from the point of view of technical analysis, is considered by many as a signal for a positive movement of the asset rate.

Ethereum’s realized value, in turn, updated a maximum of 13 months.

Data: GlassNode

In parallel, the network has a record number of bitcoin addresses that store at least one coin.

Data: GlassNode

The number of Ethereum wallets that hold at least 1 coin has also reached an absolute maximum.

Data: GlassNode

In parallel, the changes are recorded on a graph that reflects the average daily volume of transactions with bitcoin. The indicator updated the annual record at 126,427.117 BTC.

Data: GlassNode

Meanwhile, the number of bitcoins in active use has set a new high in 21 months..

Data: GlassNode

Despite the positive movement of the bitcoin rate and a number of positive forecasts for the cryptocurrency, the amount of BTC on the balances of digital asset exchanges is far from the peak values ​​that were registered in early February 2020.

Ethereum in August turned out to be 3 times more profitable for miners than bitcoin

The orange curve represents the balance sheets of the exchanges. Data: GlassNode

At the same time, the level of income of miners from commissions in the cryptocurrency network continues to grow. At the time of this writing, the indicator returned to the values ​​that were first recorded in the spring of 2017 – 6 months before the BTC rate reached its maximum value.

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Data: GlassNode

Ethereum users, in turn, updated the record for the volume of commissions paid during the day for operations on the cryptocurrency network.

Data: GlassNode

At the same time, The Block analyst Larry Chermak drew attention to the difference in income between Bitcoin and Ethereum miners.. 

“In August, Ethereum miners received commission income of $ 115.3 million. Bitcoin miners generated a profit of $ 39.2 million, which is almost 3 times less,” he wrote on his microblog..

In the month of August, Ethereum miners generated $ 115.3 million in fees. Bitcoin miners generated only $ 39.2 million in the same time period – about three times less than Ethereum miners.

– Larry Cermak (@lawmaster) September 1, 2020

At the moment, technical analysis Investing in and trading cryptocurrencies is impossible without the use of technical and fundamental analysis. Despite the popularity of both of these instruments, intraday … More Bitcoin indicates the prospects for further positive movement of the cryptocurrency rate, during which the coin will be able to renew its annual highs. Find out expert opinions on whether to buy BTC today from our material.

Mining Ethereum in 2020 is SUPER PROFITABLE! Why?!

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Ethereum in August turned out to be 3 times more profitable for miners than bitcoin
Ethereum in August turned out to be 3 times more profitable for miners than bitcoin
Ethereum in August turned out to be 3 times more profitable for miners than bitcoin
Ethereum in August turned out to be 3 times more profitable for miners than bitcoin

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