The Block released market analysis data for April, which showed that Bitcoin miner revenue fell 4.3% to $1.16 billion in April, while ethereum miner revenue rose 6.2% to $1.33 billion. Notably, this is the 12th consecutive month that Ethereum miner revenue has surpassed Bitcoin miner revenue.
Ethereum NFT transaction value also saw a sharp rise in April, with an increase of 21.6%, and the transaction value reached $7.2 billion (note: NFT market LooksRare may have a large number of wash sales). In addition, the Ethereum network burned a total of 137,088 ETH, or about $429 million, in April, and since August 2021, when Ethereum’s market value EIP-1559, the total ETH burned has reached $2.18 million, or about $7.72 billion.
The Block also noted that April’s adjusted total on-chain transaction value hit $831 billion, an increase of 40%, with Bitcoin on-chain transaction value up 55.8% and Ethereum on-chain transaction value up 1.6%. On the Stablecoin side, adjusted Stablecoin on-chain transaction volume fell to $477 billion in April, a drop of 6.8%. The issued Stablecoin supply began to contract, dropping by 1.9% to $154.4 billion for the first time since January 2020. USDT still dominates the Stablecoin market share, rising to 53.9%, while USDC’s market share has dropped to 28.2%.