Ethereum burned $ 1 billion worth of ETH

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Since August 5, more than 300 thousand Ethereum have been burned for more than $ 1 billion, according to the ultrasound.money service. The average burning rate per minute is currently 5 ETH worth about $ 18 thousand, writes RBC Crypto.

In early August, the London update was released on the altcoin network, which completely changed the mechanism for calculating transaction fees. Some of the commissions that miners previously received as a reward are now burned.

Ethereum has been destroyed most since 5 August as a result of:

  • Deals on the OpenSea NFT-marketplace – 42.9 thousand ETH;
  • Transfers in the Ethereum network – 25.6 thousand ETH;
  • Operations on the Uniswap crypto exchange – 16.7 thousand ETH;
  • Transactions with stablecoin USDT – 14.9 thousand ETH.

Since the beginning of August, Ethereum has risen in price by 33%, to current levels of about $ 3.6 thousand. Earlier, analysts of the British banking corporation Standart Chartered predicted that in the long term, the price of altcoin will be $ 26-35 thousand. At the same time, in their opinion, Bitcoin will be bargain for $ 175 thousand, while next year its rate may reach $ 100 thousand.

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