• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: New Pro-Crypto Plan Unveiled By SEC And CFTC: Could Traditional Markets Go 24/7?
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: New Pro-Crypto Plan Unveiled By SEC And CFTC: Could Traditional Markets Go 24/7?
bitcoin price

Ethereum Miners Made Eight Times More Fees Than Bitcoin Miners in September

Nick Chong
by Nick Chong
4 years ago
·
Posted in Ethereum
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure
  • Ethereum has seen immense congestion as of late due to an influx of transaction demand.
  • The transaction demand stems from the rise of decentralized finance applications, which take up a large amount of block space.
  • ETH miners have collected so many fees that data shows that they made eight times more than Bitcoin miners in transaction fees over September.
  • Proponents of Ethereum say that this is a positive sign for the cryptocurrency, as it may give the network more security.
  • Whatever the case, this is one of many positive fundamental factors for Ethereum.
  • It is unclear if these fundamentals will be enough to drive the price of ETH higher, though.

Ethereum Miners Made More Than Bitcoin Miners in Fees Over September

According to Ian Lee, an Ethereum-focused venture investor and analyst, there was a large discrepancy over September in the transaction fees collected by the two top blockchains.

Citing data from Glassnode, a blockchain data firm, Lee noted that Ethereum miners collected $166 million in transaction fees over September. Over that same time frame, Bitcoin miners collected a relatively low $26 million in transaction fees.

This means that over the course of September, Ethereum miners made around eight times Bitcoin miners did in transaction fees alone. This does not count the block subsidy, but it is quite a stark shift in trend.

September 2020 miner fee revenue:

Ethereum: $166M
Bitcoin: $26M

Ethereum's miner fee revenues past Bitcoin's due to DeFi. pic.twitter.com/zX46ndUgWe

— ian (@ianDAOs) October 2, 2020

Ethereum’s dominance in the realm of transaction fees comes as DeFi has seen a strong surge in adoption.

This segment of the crypto market has drawn in many users looking to turn a profit. Platforms like Uniswap, MakerDAO, Aave, and others are giving users an incentive to send more transactions on Ethereum than ever before, driving transaction fees higher.

One of Many Positive Fundamental Factors

ETH’s high transaction fee revenue is a fundamental factor, analysts say, as it shows that the blockchain is beating its competitors.

This is but one of many positive fundamental factors for Ethereum shared over recent weeks.

For one, scaling solutions are undergoing development as I write this. For one, the ETH2 upgrade, which will overhaul the blockchain to increase transaction speeds and throughput, is expected to launch in November.

It is unclear if these fundamental factors will drive ETH higher in the near term. The cryptocurrency was recently rejected at the critical resistance in the $365-375 range, suggesting it may correct towards range lows prior to moving higher, if at all.

Featured Image from Shutterstock
Price tags: ethusd, ethbtc
Charts from TradingView.com
Ethereum Miners Made Eight Times More Fees Than Bitcoin Miners in September
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Nick Chong

Nick Chong

Follow

I am a writer who has been following Bitcoin for many years now. My pieces and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Full Profile

Related Posts

Ethereum

Binance Ethereum Reserves Shrinks As Whale Outflows Persist – Here’s What They Are Up To

3 hours ago
Ethereum

Ethereum Foundation Is Dumping ETH Again, Is This The Top?

1 day ago
Ethereum

Just 10 Wallets Control Majority Of Ethereum Supply: How Do Other ETH Tokens Compare?

1 day ago
ethereum_eth_ethusd_optimized

Ethereum Open Interest Holds Firm at $8.4B: Why Traders Aren’t Flinching Despite Price Pressure

1 day ago
Ethereum

This Company Plans To Go Public With An Ethereum Treasury — Here’s How Much ETH They Bought

2 days ago
Ethereum

Ethereum Leads Market Rotation Amid Shifting Liquidity On Binance, Is A Rebound In Sight?

2 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • etnminer

    How to Play to Earn Crypto in 2025: Discover 6 Most...

    3 hours ago
  • miner

    BAY Miner Cloud Mining App Launches with ETH and BTC Users...

    3 hours ago
  • CoinEx Research August 2025 Report: August Ascension: Dual...

    6 hours ago
  • MemeCore七日暴漲 211%引爆熱度 Snorter Bot...

    9 hours ago
  • miner

    Is Bitcoin Investment Still Profitable? Use BTC Cloud...

    9 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.