In February, Bitcoin miner revenue increased to $1.39 billion, an increase of 3.2% from the previous month. At the same time, Ethereum staking revenue also experienced significant growth, reaching approximately 14.3%, totaling $214 million. Additionally, the Ethereum network burned 110,898 ETH in February, equivalent to $311 million. According to data, since the implementation of EIP-1559 in early August 2021, the Ethereum network has destroyed approximately 4.08 million ETH, with a total value of US$11.29 billion. However, the transaction volume of the NFT market on the Ethereum chain fell by 9.1% in February to approximately $753.1 million.
These data reflect the dynamic changes and development trends of the cryptocurrency market. As the two dominant players in the market, Bitcoin and Ethereum’s miner income and network activities have an important impact on the entire industry. Especially since the Ethereum network implemented EIP-1559, the number of ETH destroyed has continued to increase, which shows that the network is constantly optimizing its transaction mechanism to improve efficiency and sustainability. However, the downward trend in NFT market transaction volume may be related to fluctuations in market sentiment and investor interest, which requires further observation and analysis.
Overall, as mainstream cryptocurrencies, Bitcoin and Ethereum’s network activities and development status are of great significance to the entire industry. As technology and markets continue to evolve, we can expect more new developments and changes in the cryptocurrency market.
