May proved to be a contrasting month for BTC miners and ETH stakers, according to data from The Block. BTC miners saw their income decline sharply by 46% month-on-month to land at $963 million due to the fourth halving event.
Meanwhile, ETH pledgers reported income increases of 4.1% to $267 million. The same month saw a total of 26,747 ETH destroyed. Since August 2021, with the implementation of EIP-1559, approximately 4.3 million ETH worth about $12.11 billion has been wiped off.
In contrast, the NFT market on Ethereum experienced a decrease in transaction volume by 27.8% to $344 million in May. The figures paint a vibrant picture of the different trajectories BTC and ETH stakeholders experienced in May.
