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Bitcoin Revenue in April Represents $3B a Year, ETC Group Says
ETC's first industry report also shows second-quarter Ethereum transaction volume increased more than 2,000%.
Updated Sep 14, 2021, 1:39 p.m. Published Aug 12, 2021, 10:39 a.m.
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.
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- 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 the decentralized exchange surged to $283.8 billion from $3.4 billion.
- The bitcoin revenue figure is calculated from transaction fees on the network.
Read more: ETC Group to List First Bitcoin ETP in London on the Aquis Exchange
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When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
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- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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