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At first glance, it appears that Bitcoin miners had a fruitful year in general. However, according to a new weekly update report from Arcane Research, another group of miners had a more profitable year.
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On Friday, Ethereum (ETH) rose by more than 9% to a new high. This was a few days after the network had successfully undergone the Altair upgrade.
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The Ethereum 2.0 Altair Beacon Chain update got off to a good start, with 98.7 percent of nodes upgraded at the time. The transition to a proof-of-stake consensus mechanism was a significant step toward the Merge.
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This month, Bitcoin isn't the only cryptocurrency that has set new highs.
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Ethereum's bull run continued in October, with gains reaching nearly 60% since the beginning of the month.
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In the cryptocurrency market, Bitcoin prices fell below $61,000 today, with the world's largest cryptocurrency by market capitalization trading more than 3% lower at $60,935. Bitcoin, which recently reached a new high, is up 109 percent year to date (YTD).
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To support a smooth transition, Ethereum is transitioning to proof of stake (PoS) with new protocol upgrades. Ether's price peaked at a new all-time high of $4,361 on 21 October, ahead of next week's Altair Beacon Chain upgrade, but then gradually dropped.
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With Bitcoin reaching a new high above $67,000, market participants were now waiting for the world's largest altcoin, Ethereum, to achieve a similar result.
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The crypto market cap surpassed $2.650 trillion for the second time in a row as BTC, SOL, ETH,BNB, and other altcoins surged in a single day
At first glance, it appears that Bitcoin miners had a fruitful year in general. However, according to a new weekly update report from Arcane Research, another group of miners had a more profitable year.
