CoinMetrics: bitcoin miners received 12% profit from commissions in October

According to CoinMetrics, In October, miners of the first cryptocurrencies received a significant share of income from the commissions - approximately 12%. Expected, that in November this indicator will grow even more.

Commissions for confirmation of transactions are growing during network download - the more unconfirmed transactions accumulate, the more commissions become. A significant number of unconfirmed transactions have accumulated in the Bitcoin membrane - more 100 000. Against this background, the average commission has reached $11.66 - maximum indicator from the middle 2018 of the year.

Also, the growth of the income of miners from the commissions was affected by the growth of the course of the first cryptocurrency, Since the commissions are calculated in BTC. Recall, that at the end of last week, the Bitcoin course reached $14 000, although at the moment it has decreased to $13 400. In total over October 2020 years of Bitcoin miners received income in the amount $352.57 million, of them $43 Milln were received from the commissions.

Analysts also noted the growth of transactions in the Bitcoin network in October. Over the past month, transactions were made on the network of the first cryptocurrency on $92.09 billion. This is the maximum indicator since July 2019 of the year, when the volume of transactions was $93.45 billion.

Recently former hedge-control system manager and cryptocurrency enthusiast Raul Pal (Raoul Pal) I expressed an opinion, that in the near future, investors in gold can switch their attention to bitcoin.