Since August 5, 2021, approximately 1,283,226 ethereum worth close to $5 billion in value has been burned.
With three days left until the end of 2021, the Ethereum network and its native token ether have had a phenomenal year as ether has increased more than 450% in value in 12 months. 145 days ago, on August 5, the Ethereum network implemented the London hard fork and since that day, 1,283,226 ether worth close to $5 billion has been burned.Around four months ago, Ethereum implemented the London upgrade which added a number of new rule-sets to the chain.
“The algorithm results in the base fee per gas increasing when blocks are above the gas target, and decreasing when blocks are below the gas target. The base fee per gas is burned,” EIP-1559’s description notes.As of today, December 28, 2021, 1.28 million ether has been destroyed by the burn process, which equates to close to $5 billion in USD value using today’s
/USD exchange rate. The amount of value burned to-date is 31.57% higher than what had been burned on November 24, when the burn rate crossed 1 million ether. Estimates indicate that there’s 118,926,664 ether in circulation today.The biggest burner has been the non-fungible token marketplace Opensea as it has burned 134,126 ether worth $498 million across 9.5 million transactions.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ertha Metaverse Raises $5.4M – Sponsored Bitcoin NewsErtha Metaverse, currently the most notable Metaverse and Play-to-Earn projects in BSC blockchain gaming, announced its list of key investors. They
Read more »
Ethereum Hashrate Taps Record-Setting 1 Petahash as ETH’s Mining Profitability Remains High – Mining Bitcoin NewsFor the first time, statistics within the six-month range indicate Ethereum’s hashrate surpassed 1 petahash per second (PH/s). CryptoMining
Read more »
Trading volume of bitcoin and ether options grew 443% in 2021The combined trading volume of bitcoin and ether options grew 443% in 2021 to over $387 billion, according to The Block Research.
Read more »
This Year's Top 10 Crypto Asset Gainers Outshined BTC's and ETH's 12-Month Returns – Markets and Prices Bitcoin NewsGala (GALA) jumped 212,036% this year, AxieInfinity (AXS) is up 18,957% this year, CVNT spiked 18,572%, and Terra (LUNA) increased 17,589% in 12 months.
Read more »
CoinDesk: Bitcoin, Ethereum, Crypto News and Price DataBitcoin showed a clear decline in trading volumes over the holiday weekend before launching a faint 'Santa rally' to past $51,000, according to CoinDesk Indices. Chart of the Day explains the data in 'All About Bitcoin,' presented by cryptocom:
Read more »
CoinDesk: Bitcoin, Ethereum, Crypto News and Price DataLIVE: Grayscale surveyed the investor community to explore attitudes and perspectives about bitcoin. Ray_scale explores what they found. Plus, end of the year crypto tax considerations with marksteber. Watch 'First Mover' on
Read more »