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Ethereum Fees on the Verge of Overtaking Bitcoin Fees

USD value of Bitcoin fees versus USD value of Ethereum fees

Data from CoinMetrics has highlighted that fees earned by Ethereum miners are on the verge of overtaking fees earned by Bitcoin miners in USD value. Daily transaction fees earned by Ethereum miners as of September 15th is $182,899 with fees going to Bitcoin miners only slightly higher at $185,933. CoinMetrics provide strong evidence that the increase in fees observed on the Ethereum network is primarily a result of increased adoption of USDT-ETH which has steadily been building traction throughout 2019. The percentage which fees represent of total Ethereum miner revenue has also been increasing as illustrated by the below graph.

The percentage fees represent of total miner revenue in both Bitcoin and Ethereum.

Source: CoinMetrics State of the Network

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