The largest amount of ETH was destroyed as a result of transactions on the OpenSea NFT marketplace, transfers in the altcoin network and operations on the Uniswap V2 crypto exchange
The number of destroyed digital coins on the Ethereum network exceeded 1 million ETH ($ 4.2 billion, taking into account the current exchange rate at 17:35 Moscow time on November 24), according to the ultrasound.money service. The altcoin burn process began on August 5 following the London update, which changed the mechanism for calculating transaction fees. Part of the commissions that miners previously received as rewards are now burned.
Ethereum has been destroyed most since 5 August as a result of:
- Deals on the OpenSea NFT-marketplace – 110.1 thousand ETH;
- Transfers in the Ethereum network – 97.4 thousand ETH;
- Operations on the Uniswap V2 crypto exchange – 92.6 thousand ETH;
- Transactions with stablecoin USDT – 54 thousand ETH.
On November 24, Ethereum is trading at $ 4.2 thousand. On November 10, the altcoin set a new all-time high above $ 4.87 thousand. Since then, it has fallen in price by 14%, and its capitalization has dropped to $ 500.5 billion, according to CoinGecko.