Mining Bitcoin became more rewarding. Data from blockchain analytics protocol Glassnode shows that a few days ago the revenue hit a new all-time high of $52.3 M daily.
Related: Novogratz: "Number of people wanting to buy BTC is growing"
Glassnode wrote that this amount is a positive indicator of Bitcoin network security.On-chain transfer fees paid based on exchange activity are another metric while tracing the operations and priorities of the field. Glassnode states currently worldwide transaction fees concerning exchanges account for around 30% of on-chain activity fees with half of them (14.65%) coming from deposits.
The price of Bitcoin reached a new all-time high of $61,800 on March 13. However, it dropped afterwards and now trades at around $55.200. The market cap of the leading cryptocurrency stands at above 1 trillion.
Bitcoin faces regulatory issues, which according to analysts has its impact on price volatility. The Indian government considers banning cryptocurrencies in the country. On the other hand, many international banks show interest in the crypto industry. Wall Street JPMorgan announced looking for a crypto clearinghouse to create liquidity in the market.