Computing activity on the Ethereum network in January 2021 broke all previous records. As of February 1, the ETH hash rate has grown to 362,467 terahesh per second (TH / s), the highest in the entire history of the blockchain.
Computing power grew amid a rally in the largest altcoin, Ether (ETH). This coin also hit its all-time high last month.
On some trading floors, it jumped to $ 1450. On the night of Tuesday, February 2, the ETH rate fell to $ 1336, the altcoin capitalization is now about $ 152.966 billion.
January turned out to be a successful month not only for bitcoin miners, but also for pools that extract ether.
In a study by The Block team, it is said that at the end of last month, Ethereum miners’ revenues reached $ 800 million. 40% of this amount ($ 311 million) they received in the form of transaction processing fees.
The activity of ETH holders also increased significantly in January. Now, on average, miners process up to 1.234 million operations per day. Similar network surges were observed in September and December last year.
According to Santiment, currently the average commission on Ethereum is around $ 11.46.
Recently, Pantera Capital CEO Dan Morehead said his team is optimistic about the future outlook for broadcast. He noted that the share of ETH has already grown from 16% to 21%. Aggressive growth in the value of altcoin is expected in 2021 in the event of its massive institutional adoption.