The DeFi market for decentralized financial services continues to expand quickly. Recently, the capitalization of tokens of the ecosystem deployed on Ether exceeded $4 billion.
The growth of the decentralized finance market is driving the demand for transaction processing on the Ethereum network. Miner activity has reached its highest level in the last 20 months. That is evidenced by the data of the Etherscan service.
The hashrate of the Ethereum network in the middle of this week exceeded 201,000,000 GH / s. Analysts have not seen such an indicator of miner activity since 2018.
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Transactional activity on Ethereum is currently at a two-year high. The number of addresses making daily transactions exceeded 600,000. The last time about the same amount of active Ethereum addresses was observed in the spring of 2018.
Researchers from the Glassnode team recorded an increase in the income of ether miners (+ 18%).
The analyst report says: "Ethereum miners' revenues soared to their highest in the past two months by 18%."
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Moreover, the fees for processing transactions on the ETH network turned out to be higher than on Bitcoin. The gap between the number of transaction fees on the largest blockchains reaches $ 1 million per day.