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Bitcoin revenue in April represents $3B a year, ETC group says

Bitcoin revenue in April represents $3B a year, ETC group says
CoinDesk Analysis TeamCoinDesk Analysis TeamCoinDesk

ETC Group, which in June launched the first bitcoin exchange-traded product (ETP) in the U.K., said the cryptocurrency generated an annualized $3 billion of revenue for miners in April.

  • ETC's first report on the industry also shows transaction volumes on Ethereum increased more than 2,000% in the second quarter to $777.1 billion, up from $36.1 billion a year before, the company said.

  • Volumes on decentralized exchanged surged to $283.8 billion from $3.4 billion.

  • The bitcoin revenue figure is calculated from transaction fees on the network.

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CoinDesk Analysis Team

CoinDesk is the media platform for the next generation of investors exploring how cryptocurrencies and digital assets are contributing to the evolution of the global financial system.

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