Much of the NFTs and DeFi projects use Ethereum Network. There is an increase in the usage of NFTs, and sales are increasing in the major market place OpenSea. Several other cryptocurrencies like ETH have been doing well.

In terms of price, it has been an amazing weekend for Ethereum.  It has also been reportedly seen that Ethereum miners are making more than Bitcoin Miners.

It is a well-known fact that following the ban of mining by China, several countries from across the world opened up arena’s for mining activities.  Normally, it is Bitcoin miners who dominate, but it just looks like ETH miners are taking the lead in this regard of late.

The data from August points to how ETH miners have earned $1.98 billion in revenue and BTC miners have made $1.4 billion.  Mining revenue comes from transactions and block rewards.  ETH miners have made more than $690 million in transaction fees, when compared to $18.72 million made by Bitcoin miners during August. BTC miners do not earn from transaction fees; they earn from their mining rewards at the rate of 6.25 BTC per verified block.

The profitability of miners cannot be estimated merely from revenue made in the short term.  Bitcoin has a high operating cost, and until the ETH-1559 upgrade, the transaction fees have contributed to miners. Bullish price trends are also a contributing factor.  BTC is set to revise mining difficulty, which means this can influence the income of miners.

Meanwhile, Twitter is working to allow users to add Bitcoin and Ethereum addresses to their profile to receive tips through the Tips Jar Feature.

This news is not official right now. However, Jack Dorsey hinted in July that BTC tipping is a part of the company’s plans to integrate the ETH and BTC into their platform through usages like in commerce and subscriptions.

Jack Dorsey previously expressed that just ETH will not be sufficient to disrupt Bit-tech. He has made multiple BTC initiatives during 2021, which consisted of assisted custody wallets and Freebased decentralized finance services. It is worth recollecting that Jack Dorsey is a Bitcoin maximalist. Including ETH in his plans was not something that was expected previously. It is only in recent times he has been pointing to the importance of ETH.

These are all signs for ETH and BTC very soon becoming an everyday thing. About ETH price, many of them feel it will touch $5000. Will it shoot higher past the psychological level?