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<p>On August 5, the <strong>London update</strong> was released, which launched a mechanism for burning part of the transaction fees. At the moment, an average of 3.23 <strong>ETH </strong>is destroyed per minute.</p>



<p>A week ago, the <strong><a href="https://ethernodes.org/london" target="_blank" rel="noreferrer noopener">London update</a></strong> took place on the <strong>Ethereum network</strong> , which changed the system for calculating transaction fees and activated the mechanism for <strong>burning digital coins</strong>. </p>



<p>In seven days, 31.8 thousand <strong>Ethereum </strong>were destroyed with a total value of $ 99.2 million, according to the ultrasound.</p>



<p>money service, which tracks the <strong>burning of coins </strong>on the <strong>altcoin network</strong>. The average <strong>burn </strong>rate per minute is 3.23 <strong>Ethereum</strong>.</p>



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<p class="has-text-align-center"><em><strong>Burning tokens</strong> is the destruction of a certain number of tokens to reduce their number in circulation. </em></p>



<p class="has-text-align-center"><em>This method is used to combat inflation and increase the value of <strong>cryptocurrencies</strong>. </em></p>



<p class="has-text-align-center"><em>All coin burning operations are recorded on the <strong>blockchain </strong>as a transaction, so anyone can verify that the <strong>coins </strong>have been destroyed.</em></p>
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<p>The leaders in <strong>burning Ethereum</strong> for the week were the OpenSea <strong>NFT</strong> <strong>marketplace </strong>(4 thousand coins), the <strong>Uniswap </strong>decentralized exchange (2.38 thousand <strong>coins</strong>) and the Axie Infinity gaming platform (1.85 thousand coins).</p>



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<p><em>Read More</em> &#8230; <a href="https://cointopsecret.com/2021/08/12/ethereum-for-20-thousand-in-2022-why-altcoin-can-grow-by-525/">“Ethereum for $ 20 thousand in 2022”. Why altcoin can grow by 525%</a></p>



<p><a href="https://cointopsecret.com/2021/08/07/vitalik-buterin-ethereum-is-ready-to-cut-energy-consumption-by-99/">Vitalik Buterin: Ethereum is ready to cut energy consumption by 99%</a></p>
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