Langsung ke konten utama

Ether Inferno: Ethereum Network Burned Over $2.4 Billion Worth of ETH in 87 Days

Ether Inferno: Ethereum Network Burned Over $2.4 Billion Worth of ETH in 87 Days

87 days ago, the Ethereum network successfully implemented the London hard fork upgrade, and ever since then over 700,000 ether has been burned, or more than $2.4 billion using today’s exchange rates.

702,886 Ethereum Burned Since the London Hard Fork

Data from Dune Analytics indicates that on October 31, 2021, otherwise known as Halloween, 702,886 ethereum (ETH) has been burned. The burning of ethereum started on August 5, 2021, when the Ethereum network successfully implemented the London hard fork upgrade and EIP-1559.

At the time, the London hard fork upgrade included roughly five different changes but the most transformative were EIP-1559 and EIP-3554. While EIP-3554 changed the Ethereum network’s difficulty bomb, EIP-1559 changed Ethereum’s fee rate to a new scheme that makes the crypto asset ether deflationary.

Just recently, Ethereum implemented the Altair upgrade which helps smooth the consensus process from proof-of-work (PoW) to proof-of-stake (PoS). After Altair was implemented, ethereum (ETH) tapped an all-time high (ATH) two days ago on October 29, reaching $4,467 per ether.

The 702,886 ethereum (ETH) that has been burned to date is worth roughly $2.476 billion using exchange rates on October 31.

The biggest ETH burner today is the non-fungible token (NFT) marketplace Opensea which has burned 91,171 ether. This is followed by typical ether transactions that everyday users and organizations send which amounts to 63,441 ether burned. The decentralized exchange (dex) Uniswap V2 has burned 51,217 ether, making it the third-largest burner today.

While tether (USDT) is the fourth-largest burner on the network on Sunday, the stablecoin USDC is the eighth-largest in the pack. Other notable platforms and networks that contribute significantly to the ether burn rate include Metamask, Axie Infinity, and the dex aggregator 1inch.

Meanwhile, statistics from bitinfocharts.com indicate the average transaction fee on the ETH network is 0.012 ether or $51.16. Metrics from l2fees.info are far more modest with Ethereum network fees recorded at $10.21 per transaction. L2fees.info also shows that transferring Ethereum-based tokens can cost $23.26 per transfer and swapping a token via a smart contract can cost $51.05 per transaction.

What do you think about the 700K ether or $2.4 billion worth of ethereum burned since August 5? Let us know what you think about this subject in the comments section below.



source https://news.bitcoin.com/ether-inferno-ethereum-network-burned-over-2-4-billion-worth-of-eth-in-87-days/
Label:

Komentar

Posting Komentar

Postingan populer dari blog ini

Kucoin Hacked for $150 Million in Bitcoin; Bitfinex and Tether Freeze $33 Million of the Stolen Funds

Cryptocurrency exchange Kucoin may have been hacked for $150 million in bitcoin and multiple ERC20 tokens. The Singapore-based exchange confirmed the September 25 security breach, but did not disclose the amount stolen. “Bitcoin, ERC-20 and, other tokens in Kucoin’s hot wallets were transferred out of the exchange,” said Kucoin in an update on Saturday. Meanwhile, Bitfinex and Tether, issuers of the centralized stablecoin USDT , immediately froze a combined $33 million worth of USDT suspected to be part of the funds looted in the Kucoin hack – an action that has stirred questions around the influence of centralized platforms. Paolo Ardoino, chief technology officer of both entities, tweeted that Bitfinex froze $13 million USDT on EOS as part of the hack. Tether froze $20 million USDT “sitting on this ethereum address as a precautionary measure,” he said. In its update, Kucoin maintains that funds in its cold wallets (offline storage, which is less susceptible to hacks) ar...
Posting Komentar
Baca selengkapnya

Pi Network: Menambang Cryptocurrency Gratis dan Anti Monopoli

Pi Network - Mulai Menambang Gratis Pi Network: Menambang Cryptocurrency Gratis dan Anti Monopoli Pi Network adalah proyek cryptocurrency yang memungkinkan Anda menambang Pi Coin secara gratis dan tanpa perangkat keras canggih. Hanya dengan menggunakan ponsel Anda, Anda bisa bergabung dalam jaringan blockchain yang sedang berkembang ini. Potensi Pi Network: Dengan semakin banyaknya pengguna, Pi Coin bisa menjadi mata uang digital yang sangat berharga di masa depan. Menambang Anti Monopoli: Tidak seperti penambangan tradisional, Pi Network memungkinkan siapa saja untuk berpartisipasi tanpa memerlukan perangkat keras mahal. Cara Menambang: Cukup unduh aplikasi Pi Network, daftar, dan mulai menambang hanya dengan menekan tombol di aplikasi setiap hari. Mulai Menambang Pi Network Gratis
Posting Komentar
Baca selengkapnya

Pi Coin dan Potensinya Kedepan Menurut Pakar Crypto Dunia

Apa Itu Pi Coin? Pi Coin adalah token yang beroperasi di atas Pi Network, sebuah proyek yang bertujuan membuat penambangan cryptocurrency dapat diakses oleh lebih banyak orang. Berbeda dengan Bitcoin, pengguna tidak perlu perangkat keras mahal—cukup dengan aplikasi smartphone. Dengan 35 juta pengguna yang disebut Pioneers, Pi Network berfokus pada membuat crypto lebih ramah pengguna dan ramah lingkungan. Peluncuran Open Network: Apa yang Akan Datang? Peluncuran Open Network pada 20 Februari 2025 menjadi titik penting bagi Pi Coin. Setelah tanggal ini, Pi Coin akan dapat terhubung dengan jaringan lain, membuka kemungkinan perdagangan di platform seperti WEEX, sebuah platform perdagangan futures crypto baru. Permintaan Pi Coin diperkirakan akan meningkat, yang berpotensi membuat harganya naik tajam. Tantangan Regulasi Namun, jalan Pi Coin tidak mulus. Proyek ini menghadapi tantangan regulasi yang cukup berat. Kepatuhan terhadap KYC (Know Your Customer) dan AML (Anti-Money Laundering) men...
Posting Komentar
Baca selengkapnya