Ethereum (ETH) miners income has increased by 60% in one month, iHodl Russia has learned, citing data from Sparkpool.
Meanwhile, the price of the cryptocurrency itself has grown by 40% up to $318,63.
The growth in mining profitability is tied with an increase in transaction processing fees, as well as a relatively low activity of new players.
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According to Sparkpool, with 100 MH/s on June 27, Ethereum miners could earn up to $1.85/day.
By July 25, this value increased to $3.27, and has now fallen down to $3. Since June 27, the price of ETH has increased from $229 to the current ~ $320.
Transaction processing fees climbed to a two-year-high amid increased activity in the decentralized finance (DeFi) sector.
iHodl earlier reported that on June 23 transactions volume on the Ethereum blockchain increased by around 62%, about a 52-week-high. In addition, transaction fees also increased by approximately 688%.
It also has been reported that top 100 ETH whales moved approximately 700,000 ETH ($191.1 million) to cryptocurrency exchanges last week. According to Santiment analysts, this could mean the start of a pump for the second largest crypto by market cap.
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