Mining Revenues Fall Over 16% In September – October 3

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $19,427

Bitcoin price tested the $18,000s again over the weekend, recovering once again to begin Monday. Volatility is still almost absent, as the market awaits the coin’s next major move.

Top-20 altcoins look good over the last 24 hours of trading, as Ethereum gains 2%, BNB also rises 2% and Uniswap pushes ahead with a 5% advance.

Top Stories for October 3, 2022 πŸ”₯

πŸ‘‰ Mining Revenues Fall Over 16% In September

Bitcoin mining revenue has fallen by 16.2% in September, $550.5 million lower than the month of August. Around $542 million came from block rewards, while $8.7 million was from transaction fees.

Despite the fall, Bitcoin mining still generated 1.56 times as much revenue as Ethereum mining and staking combined during September, even with hype around the Merge. Bitcoin’s hashrate also rose 0.6% during the month.

πŸ‘‰ Grayscale Takes Over “Authorized Participant” Role On Bitcoin Trust

Grayscale Investments has taken over the “authorized participant” administrative role on all of its products, no longer outsourcing the role to Genesis Global Trading.

The change means that Grayscale will now be in charge of creating new shares in its trusts such as the Grayscale Bitcoin Trust (GBTC), as well as selling them to investors – a move that CEO Michael Sonnenshein says will “create efficiency.”

πŸ‘‰ Bitcoin Lightning Network Reaches 5,000 BTC Capacity

Layer-2 scaling platform, the Bitcoin Lightning Network, has reached a capacity of 5,000 BTC – almost $100 million worth. The network facilitates rapid and cheap Bitcoin transactions, with improving efficiency as the network’s capacity increases.

The network appears to be gaining more traction in general, as MicroStrategy was revealed to be building Lightning Network infrastructure according to a recent job posting.