36% of the profits recorded by Bitcoin network miners this week come from transaction commission fees. This and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
328 bitcoins mined per day last week
📍Bitcoin miners mined an average of 328 bitcoins per day over the past 7 days. Bitcoin miners' revenue was around $9,8 million per day, according to a report by the Hashrate Index platform. Although commission fees on the blockchain network have decreased since the beginning of this month, about 36% of this revenue comes from commission fees paid by users to confirm their transactions.
In its report, the platform noted that Bitcoin miners earned more than 2.290 BTC, or nearly $62 million, in commission fees last week.
However, the rush for BRC-20 tokens has subsided, and with it, network congestion and high commission fees. According to data from Bitinfo Charts, the average transaction fee on the Bitcoin network is around $ 3,9 dollars, currently. Earlier this month, this fee exceeded $30 per transaction.
Tron (TRX) marks a new 1-year high
📍Tron (TRX) price is approaching $0,08. TRX has seen a 5% surge in the past few hours and 12% in the past 7 days. The 11th cryptocurrency by market cap has hit a new 1-year high, trading at around XNUMX. $ 0,078 dollars per unit, at the time of writing this article.
On Twitter, Tron DAO highlighted that the cryptocurrency had achieved several important milestones this week, surpassing 160 million registered accounts.
Source: CoinMarketCap
Another cryptocurrency that has performed strongly in the last week, despite regulatory uncertainty in the crypto industry, is Conflux (CFX), whose price has risen by 12% in the last 7 days. Also Kava (KAVA), Mask Network (MASK) and XRP (Ripple), are among the cryptocurrencies with the biggest gains this week, according to data from CoinMarketCap.
Cardano, the 7th most capitalized cryptocurrency, is up just 2% in the past week. Nevertheless, this blockchain is seeing significant whale activity, surpassing the 180 billion ADA in trading volume during the weekend.
Russia continues its plans to regulate cryptocurrencies
📍Russia's Federal Tax Service (FTS) could be the organization responsible for overseeing the cryptocurrency industry. This was announced by Alexey Moiseev, Russia’s deputy finance minister, during an interview with local media outlet Izvestia. According to Moiseev, Russian lawmakers are preparing a new regulatory framework for the crypto industry, which will allow for establishing clear rules for cryptocurrency companies, overseeing operations within this market and ensuring the safety of its investors and participants.
On the possible appointment of the Federal Tax Service as the main regulator of cryptocurrencies in Russia, the deputy finance minister said that lawmakers are considering having the agency that regulates this industry also accept declarations about users’ transactions and wallets, a function that the FTS already performs with foreign accounts. “It is logical to assume that it should also deal with (crypto) regulation,” the deputy minister said.
Dash blockchain temporarily halted
📍Dash has not been producing blocks since Monday, after the new Dash Core update was implemented. The developers of Dash, an open-source cryptocurrency launched in 2014 to offer greater privacy and speed than Bitcoin, have reported a bug in the new Dash Core update, v19, that has caused the blockchain to stop producing new blocks.
The bug was identified by Dash Core Group CTO Samuel Westrich, who manifested on Twitter that the cryptocurrency development team is currently working to find a solution and reactivate the blockchain.
Dash Core v19 is the latest mandatory protocol upgrade for all masternodes, miners, and users of the cryptocurrency. This upgrade introduces several improvements and new features to the network, such as the implementation of high-performance masternodes, the migration of Dash’s default BLS scheme to optimize security, the implementation of a minor update related to CoinJoin, changes to RPCs (Remote Procedure Calls), and several wallet improvements, all with the aim of improving privacy, performance, and user experience.
Continue reading: Indonesia Considers Boosting Its Economic and Social Development with Bitcoin Mining
IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
