Aside from DOGE investors, meme cryptocurrency miners are also making millions of dollars in the 2021 rally by creating new coins and confirming transactions. This was reported by Pinbold on the 5th (local time).
According to data provided by cryptocurrency information platform Coinmetrics, from May 23 to June 23, Dogecoin miners earned at least $6 million in daily profits. In addition, the average mining income for a total of 30 days from January 1 to June 3 reached $259.33 million (about 289.5 billion won).
Mining income correlates with the 2021 Dogecoin rally leading to coin demand. So far, Dogecoin has surged 9,400%, benefiting from general cryptocurrency market price movements.
As the value of DOGE skyrocketed, millionaire investors also emerged. According to the previous research, as of May 4, 2021, about 2,866 Dogecoin wallets are said to be worth at least 1 million dollars (about 1.11 billion won). This is an increase of 116% compared to April 23, when 1,321 wallets were worth at least $1 million.
(Apart from dogecoin investors, the meme cryptocurrency miners are also reaping millions for generating new coins and confirming transactions amid the 2021 rally.)
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Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.