According to data from The Block Pro, Bitcoin miner income and Ethereum staking rewards experienced a general decline in September. Bitcoin miner income for the month further contracted, reaching $753 million, marking a 6.4% decrease. Simultaneously, Ethereum staking rewards also saw a drop, declining by 11.2% to approximately $115 million. Additionally, in September, the Ethereum network witnessed the destruction of 44,267 ETH, equivalent to around $71.7 million in value.
These trends indicate a notable shift in both Bitcoin mining and Ethereum staking profitability. Bitcoin miner income has been affected by factors like regulatory changes and increased competition, while Ethereum's EIP-1559 upgrade has impacted staking rewards. However, Ethereum's ongoing ETH burn, which has reached approximately 3.62 million ETH since the implementation of EIP-1559 in early August 2021, suggests a potential reduction in the coin's overall supply, which could impact its value over time. It's important to continue monitoring these trends for insights into the evolving dynamics of the crypto market.
These trends indicate a notable shift in both Bitcoin mining and Ethereum staking profitability. Bitcoin miner income has been affected by factors like regulatory changes and increased competition, while Ethereum's EIP-1559 upgrade has impacted staking rewards. However, Ethereum's ongoing ETH burn, which has reached approximately 3.62 million ETH since the implementation of EIP-1559 in early August 2021, suggests a potential reduction in the coin's overall supply, which could impact its value over time. It's important to continue monitoring these trends for insights into the evolving dynamics of the crypto market.