Crypto hell: Ethereum network burns more than $ 230 million in 17 days

17 days ago, the Ethereum network successfully implemented an update of London hardfork. One particular feature, EIP-1559, has been captivating crypto advocates for some time, as changing the update over time makes the ether increasingly less scarce. Statistics show that for more than two weeks, the ethereum network has burned 73,784 ethers, more than $ 230 million at today’s exchange rates.

73 thousand ethereum burned to date, Opensea burns more than 9,000 ethers
Data from Dune analytics ‘ dashboard, “Ethereum after 1559,” shows that 73,784 ETH have been burned since the update in London on August 5. London hardfork was successful and after its implementation Vitalik Buterin said he was “confident” in the future after London. Buterin also said he believed the EIP-1550 was a crucial part of the modernisation of London.

Long before the update in London, the ETH community was ready for the long-awaited EIP-1559 update. After changing the rule set, a little over two weeks later, people are still observing how much ether is burned daily.

The 73,784 ETH burned to date is about us $ 230,611,450 at the current Ether exchange rate. While every ETH participant contributes to the burn rate, there are numerous ethereum-based protocols that burn a lot of ETH. works just fine.

Dune Analytics statistics show that OpenSea’s non-replaceable coin (NFT) Sunday is the largest to date with 9,121 burnt ether. This will be followed by projects such as Uniswap V2( 5, 365 or ether), Axie Infinity (4024 ether), Tether (3733 ether) and uniswap, V3 (2236 ether).

Other projects and applications such as MetaMask (1405 ether), USDC (1258 ether), and 1 inch V3 (991 Ether) also burn many attractions. In October,” unknown entity ” burned 1443 ether and ranked sixth in the top 100 ether burners.

Currently, more than 12 thousand dollars are burned every minute in the Ethereum chain
On Sunday, ether trades at prices starting at $ 3,

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