Bitcoin miners have raked in more fees than Ethereum stakers in the last three days as the industry awaits for the fourth halving event and the introduction of a new token standard on Bitcoin.
Transaction fees will play an important role in keeping Bitcoin miners afloat after the halving as the subsidy for mining a block is set to fall from 6.25 BTC to 3.125 BTC.
Bitcoin miners hav cashed in $7.47 million in fees on April 17 — about $160,000 more than the $7.31 million paid to Ethereum stakers, Ethereum, however, maintains a narrow lead on a 7-day average fee basis at $8.55 million compared to Bitcoin’s $7.57 million.Bitcoin transaction fees are determined by the size or data volume of the transaction and blockspace demand at the time of the transaction request.Currently, about 900 Bitcoin are mined per day, which equates to about $57.2 million at current prices.
However, the share of block rewards from transaction fees will increase considerably after the halving event as approximately 450 Bitcoin will be mined then.
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