Ethereum Breaks Records While Miners’ Revenue Soaring

Ethereum Breaks Records While Miners’ Revenue Soaring

The second-largest and second most popular blockchain within the crypto world, Ethereum, is undergoing many progressive developments which has benefitted the Ethereum network enormously this year. According to the latest news reports, the Miners attached with the Ethereumblockchain had been able to witness a brightest day wherein about US$ 16 Million worth amount of money has been collectively earned by various miners. This high amount of earning was due to the increase in the already existing and newly introduced DeFi related transactions with the Ethereumblockchain.

According to the statistics collected from the Etherscan, it can be easily seen that various miners from the Ethereumblockhain managed to collect record-breaking ether around 42,763 ether as a fee for conducting the transactions. Due to this Ethereumblockchain has been able to break its record on Thursday which is so far the highest. According to CoinDesk data, the current collection of 42,763 Ether through mining means roughly an amount of US$ 16.5.

Similarly, the Ethereumblockchain also held the record of the highest number of transactions in January 2018 where around 1.34 million transactions were recorded. However, on this Thursday Ethereum also broke its long-held record and surpassed 1.4 million transactions.

Due to the hype regarding the decentralized finance (DeFI) last year, the numbers of transactions and users within the Etheruemblockchain have increase extra-ordinary and this is the reason why it has recently broken its record and added up a new one.

According to the statistics duly published on the website of DeFi Prime, it has been reported that the monthly volume of decentralized exchanges have increased for the past year from US$ 4 billion to an aggregate amount of US$ 16 billion till the end of August this year wherein the major key DeFi schemes were Uniswap at the top, Curve and Balance.

The reports also suggest that very recently Tether moved USDT worth over US$ 1 billion from Tron to Ethereumblockchain. Paolo Adriano who is the CTO of Tether has informed CoinDesk that since there is a high rise in demand from the exchanges to supply more USDT to Ethereum therefore one cannot ignore the possibility where Tether will supply further USDT into the Ethereumblockchain.