{"id":31195,"date":"2020-11-03T15:47:58","date_gmt":"2020-11-03T13:47:58","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=31195"},"modified":"2025-08-28T02:28:17","modified_gmt":"2025-08-27T23:28:17","slug":"bitcoin-miners-fee-income-in-october-rose-63","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-miners-fee-income-in-october-rose-63\/","title":{"rendered":"Bitcoin miners\u2019 fee income in October rose 63%"},"content":{"rendered":"

Last month, Bitcoin miners earned $42.9 million from transaction fees. Compared with September, this figure increased by 63%. Data from Coin Metrics<\/a>.<\/p>\n

<\/p>\n

Total revenue of Bitcoin miners for October was $352.7 million \u2014 up 8% from September.<\/p>\n

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Ethereum miners fared the opposite: after September\u2019s $171.7 million, in the following month they earned $59.6 million \u2014 66% less. Total revenue stood at $214.3 million, down 33% from the previous figure.<\/p>\n

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One of the main reasons affecting revenues was a change in the average transaction fee. By October 30, this value in the Bitcoin network exceeded<\/a> $13 for the first time since January 2018.<\/p>\n

The average Ethereum transaction fee fell by more than half. This trend in miners\u2019 revenue structure has been evident since mid-September. On November 1, the average ETH transaction fee reached $1.04.<\/p>\n

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On-chain activity in the Bitcoin ecosystem rose in line with the volume of value transmitted over the blockchain from September\u2019s $77.7 billion to $94 billion in October. The opposite trend was observed in the Ethereum network \u2014 from $70 billion to $43 billion.<\/p>\n

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The October on-chain activity metric was the highest since July 2019 ($93.45 billion). This affected the congestion of the blockchains of popular cryptocurrencies and the dynamics of transaction fees.<\/p>\n

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Volume of value transferred through the Bitcoin blockchain. Data: The Block, Coin Metrics.<\/p>\n<\/div>\n

As noted on Oct. 25, the average size of a Bitcoin transaction fee rose<\/a> to its highest level in more than two years \u2014 $10.24. The trend continued, and on Oct. 30 the figure reached $13.14.<\/p>\n

Subscribe to ForkLog\u2019s channel on YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

Last month, Bitcoin miners earned $42.9 million from transaction fees. Compared with September, this figure rose 63%.<\/p>\n","protected":false},"author":1,"featured_media":31196,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1178,1137,46],"class_list":["post-31195","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-blockchain-fees","tag-cryptocurrency-mining","tag-ethereum"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=31195"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31195\/revisions"}],"predecessor-version":[{"id":31197,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31195\/revisions\/31197"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/31196"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=31195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=31195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=31195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}