Last month transaction processing fees brought Ethereum miners a higher income than rewards for mined blocks. This happened for the first time in the history of the cryptocurrency, according to The Block.
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In September, Ethereum miners earned $172 million from fees and $150 million from block rewards. Combined revenue stood above $320 million, up 53.4% from August, when the figure was about $285 million.
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Source: The Block.
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Such figures are explained by activity in the decentralized finance (DeFi) sector, which spurred the rise in fees.
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In early September, the average Ethereum network gas fee rose above $15, but by month-end this value fell to $2.23.
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