Bitcoin (BTC) and Ethereum (ETH) Miners See Mixed Fortunes as Market Trends Shift

Bitcoin mining revenue per hash also witnessed record lows, and the impact of the recent halving event is visible in the trend. The median price of gas has sharply dropped, and Ethereum is currently experiencing slight inflation and a slow burn rate.

Bitcoin mining revenue per hash also hit record lows, with the recent halving event having a visible impact on the trend. The median gas price fell sharply, with Ethereum currently experiencing slight inflation and a slow burn rate. Miners' revenue has recently declined, and the low profitability could be due to the reduced number of new wallets entering Bitcoin.

The average number of new Bitcoin wallets has been at an all-time low since 2018, with mining companies like CleanSpark performing exceptionally well. Bitfarms and Core Scientific have also had a remarkable performance, according to media reports.

Former US President Donald Trump recently met with representatives of the Bitcoin mining sector in the United States. He is seeking the support of Bitcoin miners in the upcoming American presidential election, and the recent price reduction has raised hopes for the future of transaction costs on the network. The latest trends show that Ethereum's layer 2 networks play a key role in reducing transaction costs.

The median Ethereum gas price was higher last year, and with rapid advances like the Dencun upgrade, there was a noticeable decrease in gas prices. This decrease led to a significant drop in Ethereum's burn rate, indicating an inflationary state for the cryptocurrency. Bitcoin miners are currently facing challenges following a halving event, and recent developments indicate a complex interplay of factors within the crypto ecosystem. These trends ultimately shape the dynamic and evolving cryptocurrency landscape of the future. The global cryptocurrency industry is set for a promising future, as seen in the rapidly changing domain of Ethereum gas prices.

News source：https://www.kdj.com/cryptocurrencies-news/articles/bitcoin-btc-ethereum-eth-miners-mixed-fortunes-market-trends-shift.html

The above is the detailed content of Bitcoin (BTC) and Ethereum (ETH) Miners See Mixed Fortunes as Market Trends Shift. For more information, please follow other related articles on the PHP Chinese website!