Cryptocurrencies: Fees on Ethereum and income from Bitcoin miners are at their lowest

General decline. Very often, the realities associated with Bitcoin and Ethereum can be summed up under the formula: two rooms, two atmospheres. However, the evolution of these two ecosystems remains closely linked to their positions of leaders in the cryptocurrency sector. Even more so since BTC made a dive into the dark side of the force with NFT Ordinals, BRC-20 tokens and other Runes. At the same time, the Ethereum blockchain is trying to reinventing scalability with the help of its rollups and layers 2 crutches. A context in which the costs of one are falling, while the income of the other is collapsing…

Ethereum: gas fees at their lowest

The success encountered by the network Ethereum quickly propelled it to second place in the cryptocurrency sector. But, at the same time, a ever-increasing congestion has seized its blockchain to the point of make it difficult to use.

A problem that its users hoped to see partly resolved following his historic appearance at Proof of Stake. Especially with a significant reduction in its transaction fees (gas)the main obstacle to its adoption… thanks to what was then called Ethereum killers.

But this was not enough. This is why a new scalability strategy was initiated. using second layer networks (layer 2 or Rollups). And, obviously, success is there.

Indeed, the median price of gas fees on the Ethereum network has just fallen to its lowest level…since 2020. With a estimation just above the 1,5 web during the weekend. That is to say, for example, swap transactions for less than 5 dollars. Far from the 83 gwei of March 5!

A decline most certainly accelerated by the triggering of the famous “blobs” at the time of upgrade Cancun-Deneb on March 13. Which has the perverse effect of limiting the newly deflationary character of the cryptocurrency ETH, the supply of which has resumed growth the 0.56 %/an.

Bitcoin: miners in post-halving asphyxiation?

At the same time, it is also a significant drop which hits the blockchain of Bitcoin. Or more precisely its miners, whose income is currently recording a historically low level since the outbreak of his last halving.

Indeed, the amount of BTC received by terahash every second (TH/s) by miners is visiting the cellar over the last two months. With the main cause being a notable drop in activity on its network following a “prolonged wave of FUD” in the ranks of Bitcoin traders.

The would the party already be over? for the latest controversial outgrowth of the Bitcoin network, known as Runes ? A new generation token supposed give back a little freshness to minors suffering from post-halving asphyxia.

Either way, major Bitcoin mining companies see their actions outperform the price of BTC since the beginning of the year. Particularly since the candidate for the White House Donald Trump promised to support this industry on the territory of the United States.

It is currently the lack of interest and activity that dominates the cryptocurrency sector. Data to be taken into account to understand the internal dynamics of blockchains such as Bitcoin et Ethereum. Everyone delaying the bull run or the altseason hoped for by investors currently absent subscribers.