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Ethereum surges pass $345, ETH miners record highest revenue since Q3 2018

Posted by on August 1st, 2020


In recent days, Ethereum has experienced a steady rise in its price as crypto traders, global investors rush to have a stake at the fast-growing ETH market. In addition, ETH Miners just recently broke its revenue income since Q3 2018.

Data from Coinmarketcap showed that Ether is now trading above the $ 345 resistance level at the time of this report, its market capitalization presently stands at $38.77 billion.

How Nairametrics tracked the surge;

Recall, some days ago Nairametrics gave an insight on the price levels of Ethereum after it broke out of its long $200-$250 daily range, and further added that it was time to revisit ETH historical model that illustrated the number of times a daily close transition has occurred between psychological support levels.

A close above $300 reveals its 42nd instance of the price closing above or below it.

Meanwhile, ETH miners are having a field day, recording the highest revenue levels (in USD) since Q3 2018. The % of the revenue that currently comes from fees is in a league of its own. The average is between April 2018 to April 2019 and was 3%.

In July, 22.2% of Ethereum miner revenue came from transaction fees. This is the highest monthly value in ETH history and is a continuation of the sharp upwards trend in the past three months.

In July, 22.2% of #ETH miner revenue came from transaction fees.

This is the highest monthly value in #Ethereum's history, and is a continuation of the sharp upwards trend in past three months.https://t.co/ldcgVk9PE0 pic.twitter.com/dibFy73fYG

— glassnode (@glassnode) July 31, 2020

Quick fact: Ethereum is a cryptocurrency designed for decentralized applications and deployment of smart contracts, which are created and operated without any fraud, interruption, control or interference from a third party.

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Ethereum is a decentralized system, fully independent, and not under anybody’s authority. It has no pivotal point, and its platform is connected to thousands of its users through their computing systems around the world, which means it’s almost impossible for Ethereum to go offline.

What it means; Like with many other crypto assets, speculating with Ethereum can be highly profitable and has had a good history of giving its investors huge returns. However, there are also many other options to make income from Ethereum. These options include Ethereum mining, Ethereum faucets, and ETH staking.

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