Miners on the Ethereum network made roughly $262 million in revenue during November, an increase over October’s figures.
Of that amount, $64.1 million in revenue came in the form of transaction fees. Transaction fees on Ethereum spiked earlier this year amid a rise in DeFi-related activity and the associated costs of constructing complicated actions.
November marked the third-highest month for transaction fees in 2020 thus far, though it didn’t eclipse September’s $321.3 million. More than $170 million of the revenue made in September came in the form of transaction fees.
Read more about the major crypto data points for November in The Block Research’s by-the-numbers breakdown report.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.