On August 5, the London update was released, which launched a mechanism for burning part of the transaction fees. At the moment, an average of 3.23 ETH is destroyed per minute.
A week ago, the London update took place on the Ethereum network , which changed the system for calculating transaction fees and activated the mechanism for burning digital coins.
In seven days, 31.8 thousand Ethereum were destroyed with a total value of $ 99.2 million, according to the ultrasound.
money service, which tracks the burning of coins on the altcoin network. The average burn rate per minute is 3.23 Ethereum.
Burning tokens is the destruction of a certain number of tokens to reduce their number in circulation.
This method is used to combat inflation and increase the value of cryptocurrencies.
All coin burning operations are recorded on the blockchain as a transaction, so anyone can verify that the coins have been destroyed.
The leaders in burning Ethereum for the week were the OpenSea NFT marketplace (4 thousand coins), the Uniswap decentralized exchange (2.38 thousand coins) and the Axie Infinity gaming platform (1.85 thousand coins).
