The value of ether, the native cryptocurrency of Ethereum, is considerably down from its all-time excessive this month, however Might continues to be set to signify a record-breaking month for ETH miners.
Information collected by The Block Analysis reveals that as of Might 23, ETH miners have hauled in some $1.93 billion in income. Of that determine, $922.46 million got here within the type of transaction charges, or prices related to transacting on Ethereum. Subsidy funds to miners made up the remaining $1.01 billion.
As one week stays of Might, the general income determine is predicted to maneuver larger. Miners make earnings when the income from their mining exceeds the price of electrical energy and different expenditures within the mining course of.
Ether’s value has fallen sharply since buying and selling at an all-time high above $4,300 on Might 12. The cryptocurrency is at the moment buying and selling arms at roughly $1,820, in line with Coinbase information, representing a 24-hour decline of greater than 20 %.