Data from CoinMetrics shows that Dogecoin Miners’ (DOGE) revenue reached record levels in November 2021.
Dogecoin miners’ revenue are rising
1З. November 2021, the total income of miners for the first time exceeded 1 billion USD, and today the total amount reached $ 1.08 billion.
The chart above shows the sum of all miners’ earnings in dollars, including fees and recently issued coins. The total value of DOGE raised on January 1 was $ 108 million, with the growing popularity of the asset, the indicator increased tenfold.
Interestingly, Ethereum’s total mining revenue is currently $ 18 billion, which is 18 times more than Dogecoin generates. Ethereum’s market capitalization is $ 477 billion, more than 21 times the $ 22 billion capitalization of Dogecoin.
Going back to Dogecoin, the growth of miners’ incomes began to rise up in April and May, which coincides with the sharp rise in the price of DOGE, as investors began to notice assets at this time. Accordingly, the miners saw this as a chance to profit from the growing popularity of the coin.
In 2021, dogecoin made it into the top ten most popular words in news Google search reports.