Ethereum miners' income in August increased by 60% – Bits Media

Despite the activation of the London update on the Ethereum network, the miners of this cryptocurrency received income in $1,65 billion, which is 60% more indicators of July.

Part
London update included proposal EIP-1559, which involves burning ETH to pay part of the commission for transaction. This led to a decrease in miners' income. Despite this, due to the growth of the ether exchange rate and the increase in the number of transactions with non-fungible tokens (NFT), miners' income remained at a high level.

If for most of July the ETH rate fluctuated around the $2,000 mark, then from the beginning of August the air began to grow and already 7 August the coin was trading at $3,000. Besides, the number of transactions on the Ethereum network remains at a high level, thanks to the boom in NFT trading.

According to The Block, in just August, ETH miners received income of $1,65 billion, out of which $556 million were received from transaction fees. For comparison, in July, the total income of miners was $1,08 billion, out of which $201 million amounted to income from commissions.

Note, that after the activation of the hardfork London is burned
about a third of the ETH supply. In this way, the coin did not become deflationary, although the inflation rate has slowed somewhat.

Recently there was an incident on the Ethereum network.
reorganization of blocks - the network forked due to an error in the outdated Geth client. We worked with the wrong chain for about 54% Ethereum nodes.