Since last August 5, over 300,000 Ethers valued at more than $1 billion have been burned, according to data from ultrasound.money. The average burn rate per minute at the moment is 5 ETH (about $18,000).
In early August, the London update was released on the altcoin network, which changed the mechanism for calculating transaction fees. Some of the commissions that miners previously received as rewards are now burned.
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Over all, since August 5, Ethers have been destroyed as a result of:
- Transactions on NFTs marketplace OpenSea: 42,900 ETH.
- Transfers on the Ethereum network: 25,600 ETH.
- Transactions on the cryptocurrency exchange Uniswap: 16,700 ETH.
- Transactions with the stablecoin USDT: 14,900 ETH.