Ethereum miners made 450K ETH from high network fees during DeFi peak

Ether (ETH) miner revenue skyrocketed during the month of September according to data from glassnode, an onchain analytics resource. While the price of Ether did not rise significantly during this time, miners on the network saw their revenue increase due to high fees.

Miners took home 450,089 ETH in fees ($168.7 million) and this represents a 39% increase over last month in which miners made roughly $113 million in fees.

vs Ether – All Miner Revenue. Source: glassnode
Bitcoin and Ethereum YTD Performance. Source: Digital Assets Data
Total Value Locked in DeFi. Source: Digital Assets Data