Bitcoin mining revenue in May surged to $916.6 million, showing a significant 13.7% increase compared to the previous month.
June 01, 2023 | | | | Milk Road has acquired Bitcoin Price! Milk Road is the #1 crypto newsletter that is free and will make you smarter about crypto! | | 📈 30 Second Cryptocurrency Price Summary | | Current Bitcoin Price: $27.031 | Bitcoin price dipped below $27,000 over the last 24 hours of trading, currently attempting to break back above the level. | Top-20 altcoins are mostly stable or slightly in the green, as Ether gains 1%, BNB remains unchanged and Litecoin stands out with a 7% gain. | Top Stories for June 1, 2022 🔥 | | Bitcoin mining revenue in May surged to $916.6 million, showing a significant 13.7% increase compared to the previous month. | The growth can be attributed to a rise in transaction fees, with over $120 million generated from fees alone. The spike in transaction fee revenue is largely driven by increased on-chain activity, particularly due to the popularity of bitcoin NFTs through platforms like Ordinals. | | Leading stablecoin Tether (USDT) has reached a new all-time-high market capitalization of over $83 billion, continuing its dominance in the market. | The achievement comes at a time when other stablecoin issuers are facing regulatory challenges. While USDT thrives, competitors like USD Coin (USDC) and BUSD struggle to maintain their market share. | Regulatory scrutiny and the U.S. banking crisis have affected the market share of other stablecoins, with declines in their market caps after reaching all-time highs in June 2022. | | The country of Georgia is implementing measures to monitor crypto firms and prevent money laundering, while complying with sanctions. | Starting from September 1, 2023, the National Bank of Georgia (NBG) will introduce mandatory supervision of virtual asset service providers (VASPs) to combat money laundering and enhance compliance with Western sanctions against countries like Russia and Belarus. | The NBG has established a dedicated department to monitor sanctions and enforce compliance. | | Today on Milk Road: What to expect in June, Milk Road Cribs, Visual of the day: ETH gas guzzlers, and someone got $1M of ETH for free… |
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