Bitcoin robbers transfer stolen BTCs worth $13.2 million

Bitcoin robbers transfer stolen BTCs worth $13.2 million

Ethereum (ETH) miners seem to have an edge now over their arch-rivals as they surpassed Bitcoin (BTC) miners on transaction fees charged for two consecutive months.

Crypto market data aggregator Messari revealed this key metric on Thursday, showing it is the longest period that Ethereum’s transaction fee revenue had surpassed BTC  in the crypto asset’s history.

Ethereum fees have been higher than Bitcoin fees for 2 months straight. It’s longest streak ever

— Messari (@MessariCrypto) October 8, 2020

This prevailing macro is positive for Ether miners whose turnovers have been increased by higher fees and more transactions. In fact, Ethereum’s network hash rate has been growing consistently, having reached a near two-year high.

Meanwhile, the median Ethereum gas price has massively spiked as well, reaching levels as high as 700 Gwei.

GTBank 728 x 90

READ: 88.0% of all Bitcoins mined, as 2.5 million BTCs left to be mine

Is mining Ethereum worth it? When it comes to most crypto assets, mining difficulty and costs related to it are only going upwards.

However, as ETH mining becomes more difficult based on more miners joining the process, it is expected that cost will move upward, as more computing power, software, and electricity are needed.

GTBank 728 x 90

Nairametrics, however, believes that ETH’s value in recent months has gained exponentially and will most likely continue to do so, thus making mining potentially profitable in the long term.

Explore Data on the Nairametrics Research Website

Quick fact; On Ethereum, all transactions and smart contract executions require a small fee to be paid, called Gas. In technical terms, Gas refers to the unit of measurement on the amount of computational effort required to execute an operation or a smart contract. The more complex the execution operation is, the more gas is required to fulfill that operation. Gas fees are paid entirely in ETH.


Author: News Bureau

October 9, 2020

October 9, 2020

  • About
  • Blog
  • Contact
    • Home
    • 2020
    • October
    • 9

    As the 2020 U.S. presidential election draws near, two crypto traders on Twitter shared their…

    The latest data from Santiment shows that the collective market capitalization of all defi-related assets…

    Aragon co-founder Luis Cuende told Cointelegraph that the decentralized technology his company has been developing…

    Ledger, a crypto company providing a number of hardware wallet solutions, has obtained a successful…

    Bitcoin and select altcoins have broken out of their bullish setups, hinting that further upside…

    Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of…

    Kyrgyzstan has suspended the SWIFT system and recommended that banking activities be halted until the…

    Speaking at the online launch event for the Global Digital Asset & Cryptocurrency Association on Friday…

    Co-founder and managing partner at Electric Capital, Avichal Garg, is convinced the only way for…

    Within the last few hours, Bitcoin (BTC) price surpassed $11,000 in a swift turnaround from…

    • A WordPress Commenter on Hello world!

    Patents Pending

  • Linkedin
  • Facebook
  • Twitter
  • Privacy Policy
  • Terms and Conditions
  • Contact us with any Questions regarding

    Email: [email protected]


    Author: by:

    Bloomberg researchers predict Tether to surpass Ethereum by next year – here’s why

    Bloomberg researchers predict Tether to surpass Ethereum by next year – here’s why

    Bloomberg researchers predict Tether to surpass Ethereum by next year - here's why

    In their monthly crypto outlook report for October, Bloomberg researchers have concluded that before the end of 2021, Tether (USDT) will overtake Ethereum to become the second most valuable cryptocurrency by market capitalization.

    According to the newest Bloomberg report, there is currently a demand in the cryptocurrency markets for Bitcoin and stablecoins that mirror the dollar. If this trend continues, USDT will benefit and grow to new heights. 

    The data led the researchers to another prediction as well. The team at Bloomberg thinks the increased interest in stable coins will lead to central banks creating and issuing their own digital currencies.

    “Expect Bitcoin #1, Tether #2 in 2021 If Trends Remain the Same. Indicating demand for a digital version of gold (Bitcoin) and a crypto-asset like the dollar, if current trends prevail, the market cap of Tether may surpass Ethereum next year. Increasing adoption of stable coins is likely a precursor for central bank digital currencies and promises to be more enduring than alt-coin speculative excesses. The rapid rise in the market cap of stable coins indicates that central bank digital currencies (CBDCs) are a matter of time, in our view.”

    The researchers also put forth the idea that the market cap of Ethereum has been in stagnation for several years.

    “It should take something significant to stall the increasing adoption of Tether, the top stable coin, which is on pace to match the capitalization of Ethereum in a bit less than a year, based on the regression trend since the start of 2019. Our chart depicts the stagnant market cap of Ethereum since 2017 vs. rapidly rising Tether, which jumped to a new high of almost $16 billion at the start of October.”

    Ethereum has faced criticism at times for its high gas fees and slow transaction times, and many experts believe an exodus to newer and more efficient protocols could happen soon. Still, over the course of 2020, Ethereum has gained around 130% as the cryptocurrency community anticipates the release of ETH 2.0.


    Author: By TeamMMG

    Bitcoin robbers transfer stolen BTCs worth $13.2 million

    Rating: 0
    xc false
    Slider: 0

    Leave a Reply

    Your email address will not be published. Required fields are marked *